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39-547: In 2009, the BAIC Group established a subsidiary, Beijing Electric Vehicle Co., Ltd. (BJEV). It is the first independently operated electric vehicle manufacture of China, and the enterprise in China to obtain the qualification for the production of new energy vehicles. Between 2010 and 2014, BJEV is a subsidiary of BAIC Motor, but it was put back under direct control of BAIC Group again prior to BAIC Motor's listing. The company

78-596: A flat tax and lowering national debt . In 2012, he founded the political party Team Stronach for Austria . In 2024 he was arrested by Peel Regional Police and charged with 13 offenses, including rape, indecent assault on a female, eight counts of sexual assault and one of forcible confinement, involving 10 alleged victims. Police allege that the sexual assaults spanned from the 1980s to 2023. In October 2024, Magna International conducted its own records review responding to Peel Regional Police . His counsel, Brian Greenspan , however, stated that Stronach denied all

117-648: A joint venture between General Motors and Chrysler , in September 2004, and combined it into Magna Powertrain. It assumed full ownership in 2007, closing the operation in August 2012. In October 2004, Magna announced its intention to unwind the legacy public offerings it had made of three divisions that it spun off as standalone companies in past years: Tesma International Inc. ( initial public offering (IPO) in 1995), Decoma International Inc. (IPO in 1997) and Intier Automotive Inc. (IPO in 2001). Magna made offers to

156-591: A tool-and-die rented garage out of Toronto. Its first automotive industry contract for metal sun visor brackets was with General Motors in 1959. By the late 1960s, the company was operating in eight plants. Stronach took Multimatic Investments public in 1969 through a merger with Magna Electronics Corporation, an aerospace, defence and industrial components company, and became known as Magna International in 1973. The company developed an employee equity participation and profit-sharing program in 1974. By 1981, Magna had sold its aerospace and defence operations to focus on

195-732: A $ 66.5 million plant to produce cameras and driver-assistance components. In February 2015, Samsung SDI agreed to purchase the battery pack business from Magna Steyr , an Austrian operating unit of Magna International, for $ 120 million. Magna International partnered with Argus Cyber Security after joining in a 2015 Series B funding round to access the company's security technology. The company sold its interiors business, which includes door and instrument panels, overhead systems and cargo management parts, to Grupo Antolin in August 2015. The sale to Grupo Antolin included 36 plants and 12,000 employees in Europe, North America and Asia, about 10 percent of

234-436: A contract basis. The company is also known for using new materials for "lightweighting" vehicles. In 2017 Goldman Sachs has reported that automated features developed by suppliers such as Magna will produce a 42 percent compound annual growth rate in global revenue over the next decade. Frank Stronach Frank Stronach CM (born 6 September 1932) is an Austro-Canadian billionaire businessman and politician. He

273-477: A full fletched joint venture, using BAIC Zhenjiang as the donor company. It was renamed as BAIC BluePark Magna Automobile and would be responsible for manufacturing premium electric vehicles under the Arcfox brand. In September 2021, BAIC BluePark and Huawei made a joint statement, that two companies would collaborate on building intelligent electric vehicle under Arcfox brand. In May 2022, BAIC BluePark launched

312-861: A model community for people displaced by Hurricane Katrina . The Toronto Star reported that "Magna Entertainment Corp. (a gambling and racing business once the world’s largest owner of race tracks ) is [currently] providing housing for about 260 evacuees from the New Orleans area at a racetrack training facility in Palm Beach County, Florida and will move them to a new community in November. Auto-parts giant Magna International Inc. and MEC are scouting for about 500 to 1,000 acres (2 to 4 km ) in an area of Baton Rouge in Louisiana to set up trailers and infrastructure. "[W]e would like to build

351-708: A partnership with BAIC Group in June 2018 to develop "next-generation" smart electric vehicles for Chinese consumers. Walker retired as CEO at the end of 2020, with Swamy Kotagiri replacing him in January 2021. In February 2021, the office of the governor of the state of Michigan announced that Magna plans to open a facility in the city of St. Clair to build battery enclosures for the 2022 GMC Hummer electric pickup. The battery enclosures will be produced at General Motors ' facility in Detroit and Hamtramck . The new facility

390-556: A student-led political party. Stronach's plans to form a new party gained prominence in 2012. He called for a flat tax of 20%, a reduction in bureaucracy by 10% over five years, and a balanced budget. Stronach argued that Austria should stay in the EU, but that the euro was a 'monstrosity'. His programme was compared to the Alliance for the Future of Austria (BZÖ); Stronach had admired

429-407: Is currently the non-executive chairman of Magna International, holds multiple-voting shares of the company, which gives him majority voting power over issues brought to shareholder vote. Although he controls the voting power among Magna's shareholders, Stronach owns only 4% of Magna's equity. His pay packages over the past few years have been between $ 30 and 50 million CAD . In October 2018, he sued

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468-937: Is expected to cost $ 70 million and to create over 300 jobs for the state. An electric version of the Ineos Grenadier off-road utility vehicle is to be developed by Ineos and Magna, scheduled to enter production in Graz , Austria in 2026. Magna International Inc. (full name as certified under the Ontario Business Corporations Act ) is headquartered in Aurora, Ontario , and has 342 manufacturing operations and 91 product development, engineering and sales centres in 27 countries. Its United States operations are headed out of Troy, Michigan with its European head office in Vienna, Austria . Donald J. Walker

507-512: Is headquartered in Aurora, Ontario , and its chief executive officer is Swamy Kotagiri. It has 158,000 employees in 342 manufacturing operations and 91 product development, engineering and sales centres in 27 countries. Magna is governed under a corporate constitution which calls for distribution of profits to employees and shareholders. The terms of this contract are a "fair enterprise system" according to company founder Frank Stronach . In 1957, Frank Stronach founded Multimatic Investments Ltd in

546-617: Is involved in Thoroughbred horse racing, via the Adena Springs Farms breeding operations. His grandchildren include electronic musician Frank Walker . In 1956, Stronach started his first business, Multimatic Investments Ltd., in the old manufacturing district of Toronto . In 1969, his firm acquired its first automotive parts contract and merged with Magna Electronics. In 1973, the name was converted from Multimatic Investments Ltd to Magna International Ltd. Stronach, who

585-737: Is one of the largest companies in Canada and was recognized on the 2020 Forbes Global 2000. The company is the largest automobile parts manufacturer in North America by sales of original equipment parts; it has ranked consistently in the Fortune Global 500 list for 20 years in a row since 2001. It produces automotive systems, assemblies, modules, and components, which are supplied to General Motors , Ford and Stellantis , as well as BMW , Mercedes , Volkswagen , Toyota , Tesla , and Tata Motors , among others. The company

624-642: Is renamed to Beijing New Energy Automobile Co Ltd (BAIC BJEV) . In 2018, the BAIC BJEV is set to go public through a backdoor listing on the A-share market in China. The company was renamed to " BAIC BluePark New Energy Technology Co., Ltd. (BAIC BluePark) ". BAIC BJEV was reconstructed and became a subsidiary of BAIC BluePark. In December 2019 Beijing BluePark expands an existing cooperation with global automotive supplier Magna International (based in Canada) to

663-501: Is the brand Huawei collaborates with BAIC BluePark, a subsidiary of BAIC Group . With the Beijing Electric Vehicle Co., Ltd. (BAIC BJEV) was reconsolidated into BAIC BluePark , the battery electric vehicle of Beijing brand, like Beijing EU5, Beijing EU7, are also operated by BAIC BluePark at present. Magna International Magna International Inc. is a Canadian parts manufacturer for automakers. It

702-535: Is the founder of Magna International , an international automotive parts company based in Aurora, Ontario , Canada, Granite Real Estate , and the Stronach Group . With an estimated net worth of $ C 3.06 billion (as of December 2017), Stronach was ranked by Canadian Business as the 31st richest Canadian. In 2011, he entered Austrian politics: founding the Stronach Institute to campaign for

741-469: Is the largest automobile parts supplier in North America and the third largest worldwide. It uses mobility technology to develop customized computing for fully automated driving systems . In 2018, it introduced an Icon radar system to help automakers reach Level 5 autonomy as well as automatic emergency braking systems. Magna has partnered with BMW on electrification to produce electric cars on

780-631: The Arcfox α-S HI version under the "Huawei Inside" mode. Huawei empowers the vehicle intelligence through the supply of both software and hardware. In August 2023, BAIC BluePark issued an announcement that it would extend cooperation with Huawei Consumer Business Group to build a high-end intelligent electric sedan. In December 2023, according to an announcement made by the China National Intellectual Property Administration (CNIPA), Huawei has transferred multiple trademarks called "STELATO" to BAIC BJEV,

819-427: The $ 16-million Pegasus World Cup Invitational , the world's richest Thoroughbred horse race; Laurel Park; Golden Gate Fields; Portland Meadows; and Rosecroft Raceway. The Stronach Group is in pari-mutuel technology through its subsidiaries AmTote and Xpressbet and is a distributor of horse racing content to audiences through Monarch Content Management. A settlement to the lawsuit launched by Stronach on 1 October 2018,

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858-541: The BZÖ and independents Robert Lugar and Erich Tadler agreed to join the party. The endorsement of at least three members of the National Council was required for a party to compete in general elections (alternatively, a quorum of 2,600 signatures in support of the party's candidacy have to be collected). On 6 September 2005, Stronach announced that he and Magna International were committing $ 2 million to start

897-608: The BZÖ's leader Josef Bucher as the only politician in Austria that represented economic liberalism . This led to suggestions that Stronach would take over the BZÖ ahead of the 2013 elections so as to give his movement seats in Parliament. The new party, called Team Stronach , was launched in September 2012. Four MPs – Gerhard Köfer of the Social Democratic Party , Elisabeth Kaufmann-Bruckberger of

936-718: The Eclipse Award for Outstanding Breeder in 2004, 2005 and 2006. In the 1988 Canadian federal election , Stronach was the Liberal candidate in York—Simcoe , receiving 35% of the vote to place second to Progressive Conservative winner John E. Cole . In 2011, Stronach entered Austrian politics, proposing the establishment of a new political party: a "Citizens' Alliance" advocating tax, health, and education reform. In November 2011, he called for an 'intellectual revolution' in Austria, suggesting that he would be willing to fund

975-608: The English name of the Huawei-BAIC collaboration brand under Harmony Intelligent Mobility Alliance (HIMA), similar to AITO and Luxeed . In March 2024, BAIC BluePark announced that the BAIC Group , it's controlling shareholder, entrusted all the voting rights and shares of BAIC BluePark to BAIC Motor . After this share trusteeship, BAIC Motor actually controls approximately 38.70% of the voting rights of BAIC BluePark and

1014-737: The German company Getrag , which was one of the largest suppliers of automotive transmissions worldwide for $ 1.9 billion. The acquisition worked to increase growth potential in the Chinese market. In 2018, the company acquired Haptronik GmbH, a German motion control software developer, OLSA S.p.A., an Italian automotive lighting manufacturer, and Viza Geca SL, a Spanish automotive seating company. It partnered with Innoviz Technologies to produce solid-state lidar for autonomous vehicles for BMW Group. Magna acquired Boston startup Optimus Ride and its >120 employees in January 2022. In December 2022, it

1053-536: The Magna's global workforce at the time. The operations generated sales of $ 2.4 billion in 2014. In March 2018, Magna announced they will work together with the ride-share company Lyft to supply high-tech kits that turn vehicles into self-driving cars . The company invested $ 200 million into the project and both parties will jointly own the intellectual property developed. It was also noted that Magna will be Lyft's exclusive supplier of self-driving kits. Magna announced

1092-484: The Stronach Group. On 1 October 2018, he and his wife filed a lawsuit against their daughter Belinda, their grandchildren Nicole and Frank Walker, and Alon Ossip for failure to honour commitments regarding the management of The Stronach Group (TSG), from which Frank Stronach resigned as trustee in 2013 when he ran for office in Austria.[4] The settlement to the lawsuit was announced on 13 August 2020. As part of

1131-810: The Year , and named the World's Top Ranked Horse for 2004. In Canada, Stronach and/or his Stronach Stables has won the Sovereign Award for Outstanding Owner nine times. In the United States, he earned the Eclipse Award for Outstanding Owner in 1998, 1999, and 2000. In 2000, he won the Eclipse Award for Outstanding Breeder . He subsequently established Adena Springs Farms which owns horse breeding farms in Kentucky , Florida and Canada and won

1170-514: The accusations in at least 18 pending sexual assault complaints . Of Croatian heritage he was born as Franz Strohsack in Kleinsemmering, Styria , Austria, to working-class parents. He married Elfriede Sallmutter, a fellow Austrian. She died in Canada on March 25, 2024 at the age of 80. They have two children: Belinda Stronach , a former Liberal (and previously Conservative ) MP and former CEO of Magna, and Andrew Stronach, who

1209-550: The automotive industry. It began decentralizing major systems into independent, publicly traded companies during the 1990s, while expanding into Asia. Magna began designing automotive rearview cameras for Hummers in 2005 on its production line in Michigan , US, which were not a federal requirement at the time. It was one of the first to develop rearview cameras for automakers, and had a 350,000 unit contract by 2007. The company has produced more than 46 million components and opened

BAIC BluePark - Misplaced Pages Continue

1248-598: The boards of the three companies, with an expected total cost to Magna of CA$ 1.3   billion (equivalent to $ 2   billion in 2023) in cash and Magna shares, to privatize the companies within Magna International. The three privatizations were completed in February (Tesma and Decoma) and April (Intier) of 2005. Magna purchased CTS Fahrzeug-Dachsysteme , a supplier of convertible roofs, from Porsche in November 2005. In July 2015, Magna bought

1287-570: The business magazine Vista , Frank's Energy Drink, and the beef ranch operations of Adena Farms. In 2011, Stronach along with his daughter Belinda Stronach, founded The Stronach Group, a horse racing, entertainment and pari-mutuel wagering technology company. The Stronach Group horse racing industry brands include; Santa Anita Park , "The Great Race Place"; Pimlico Race Course , home of the Preakness Stakes ; Gulfstream Park , one of Florida's entertainment destination centers, and home to

1326-489: The direct controlling shareholder are changed from BAIC Group to BAIC Motor. The company will still be indirectly controlled by BAIC Group, and the actual controller of the company are still the State-owned Assets Supervision and Administration Commission of Beijing Municipal Government. Arcfox (极狐汽车) is BAIC's premium EV brand operated by BAIC BluePark, established in 2017. Stelato (Chinese: 享界)

1365-508: The settlement, Frank and Elfriede will assume full control and ownership of a stallion and breeding business, all farm operations in North America, and all European assets. Belinda Stronach retains full control of The Stronach Group's horse racing, gaming, real estate and related assets. Other ventures by Stronach over the years include the "As Prime Minister, I Would…" symposium, the Fair Enterprise Institute think tank,

1404-688: Was announced Magna has acquired the Stockholm -headquartered Veoneer Active Safety business from SSW Partners for US$ 1.52 billion. As of 2024 , Magna International consists of seven groups, which hold further corporate subsidiaries and subdivisions: During its history, Magna International has worked with automakers to advance vehicle safety and technology such as smart mobility seating systems including stow-into-floor minivan seats, exterior systems including reaction injection moulding (RIM) bumpers, advanced driver assistance systems (ADAS), blind-spot detection and lane departure warning systems. The company

1443-477: Was announced on 13 August 2020. As part of the settlement, Stronach assumes full control and ownership of a stallion and breeding business, all farm operations in North America, and all European assets while Belinda Stronach retains full control of The Stronach Group's horse racing, gaming, real estate and related assets. Stronach no longer plays a role in The Stronach Group. Among his early successes

1482-521: Was his partnership with Nelson Bunker Hunt in the filly Glorious Song who was voted the 1980 Sovereign Award for Canadian Horse of the Year . His horses have won the Queen's Plate in 1994 and 1997, the Belmont Stakes in 1997, and the Preakness Stakes in 2000. His horse Ghostzapper won several major races including the 2004 Breeders' Cup Classic , was voted the Eclipse Award for Horse of

1521-550: Was its chief executive officer and was working with Magna since 1987 until 2021. Magna is governed under a corporate constitution, and requires consensus from management, shareholders and employees to make any changes. The company shares 10 percent of pretax profits with its employees. As of 2019, the company has 158,000 employees. In 2002, Magna International announced that it had reached an agreement with DaimlerChrysler to acquire its Austrian-based Eurostar Automobilwerk operation. Magna acquired 80% of New Venture Gear , once

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