60-808: Magna International Inc. is a Canadian parts manufacturer for automakers. It 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
120-475: A Toyota Land Cruiser , Nissan Patrols , Ford Broncos . And we looked at vans, lorries, Unimogs , military vehicles , tractors . African-spec vehicles were particularly interesting. They all shaped our plan for a vehicle that would be extremely capable but also very honest and uncomplicated". The exterior design of the Grenadier was shown to the public for the first time in an online launch on 1 July 2020. At
180-646: 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
240-588: 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
300-728: 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
360-537: A ZF eight-speed automatic transmission (codenamed 8HP51 for the petrol, 8HP76 for the diesel), with what Ineos calls a new "heavy duty" torque converter. All Grenadiers come standard with permanent four-wheel drive (4WD), with low-range accessed through a 2.5:1 Tremec two-speed transfer case. The Grenadier is built on a box-section ladder frame chassis. There are heavy duty Carraro beam axles at each end, paired to five-link coil suspension supplied by Eibach offering nine degrees of front axle articulation and 12 degrees at
420-511: A better one, something that doesn’t leak and is comfortable. After all, this isn’t 1948. We can move on." Speaking on how they would modernise the Defender's design he stated "That was when we started collecting similar vehicles – Bronco , Pajero , G-Wagen , various Jeeps – to see how other manufacturers had done it". At the online launch, Toby Ecuyer, head of design at Ineos Automotive, said: "We had Jeeps , Land Rovers , Toyota Hiluxes ,
480-664: A buyer, Forbes suspended publication of these two magazines as of May 17, 2007. Both magazines were purchased by the American Heritage Publishing Company and resumed publication as of the spring of 2008. Forbes has published the Forbes Travel Guide since 2009. In 2013, Forbes licensed its brand to Ashford University , and assisted with the launch of the Forbes School of Business & Technology . CEO Mike Federle justified
540-631: A case based on trademark infringement but failed on a ruling that the similarity was insufficient. In July 2023, Ineos introduced the Grenadier Quartermaster, a four-door pickup version of the Grenadier. Compared to the SUV version, its wheelbase has been stretched by 305 mm (12.0 in) to fit the bed, which has a maximum payload capacity of 760 kg (1,680 lb). The load bay measures 1,564 mm (61.6 in) long and 1,619 mm (63.7 in), ensuring it can accommodate
600-540: 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. Forbes Forbes ( / f ɔːr b z / ) is an American business magazine founded by B. C. Forbes in 1917 and owned by Hong Kong –based investment group Integrated Whale Media Investments since 2014. Its chairman and editor-in-chief
660-599: A deal valuing the company at $ 800 million. His majority ownership was to include the remaining portion of the company owned by the Forbes family which was not previously sold to Integrated Whale Media. The transaction attracted scrutiny by the Committee on Foreign Investment in the United States . Russell denied reports that Russian businessman Magomed Musaev was involved in the transaction. In November 2023,
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#1732800741337720-558: A financial columnist for the Hearst papers, and his partner Walter Drey, the general manager of the Magazine of Wall Street , founded Forbes magazine on September 15, 1917. Forbes provided the money and the name and Drey provided the publishing expertise. The original name of the magazine was Forbes: Devoted to Doers and Doings . Drey became vice-president of the B.C. Forbes Publishing Company, while B.C. Forbes became editor-in-chief,
780-669: A newcomer". The vehicle was proposed to be manufactured in Wales, but later confirmed to be made in France. Production started in July 2022 at Ineos Automotive plant in Hambach, France . The first deliveries were made in December 2022. In March 2019, Ineos Automotive announced that it had entered into a powertrain technology partnership with BMW . It was announced in September 2019 that
840-476: A part. A 2009 New York Times report said: "40 percent of the enterprise was sold... for a reported $ 300 million, setting the value of the enterprise at $ 750 million." Three years later, Mark M. Edmiston of AdMedia Partners observed, "It's probably not worth half of that now." It was later revealed that the price had been US$ 264 million. In 2021, Forbes Media reported a return to profit, with revenue increasing by 34 percent to $ 165 million. Much of
900-706: 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
960-551: A post he held until his death in 1954. B.C. Forbes was assisted in his later years by his two eldest sons, Bruce Charles Forbes (1916–1964) and Malcolm Forbes (1919–1990). Bruce Forbes took over after his father's death, and his strengths lay in streamlining operations and developing marketing. During his tenure, from 1954 to 1964, the magazine's circulation nearly doubled. On Bruce's death, his brother Malcolm Forbes became president and chief executive officer of Forbes, and editor-in-chief of Forbes magazine. Between 1961 and 1999
1020-426: A standard Euro pallet . The Grenadier Quartermaster towing capacity is rated at 3,500 kg (7,700 lb), identical to the SUV version. Despite the 25 percent import tariff imposed on light trucks built outside North America, the Grenadier Quartermaster is planned to be sold in the U.S., with pre-orders planned to be opened in early 2024. The Grenadier is powered by a choice of BMW six-cylinder engines;
1080-613: A streaming platform Forbes8, highlighting notable entrepreneurs and sharing business tips. In 2020, the network announced the release of several documentary series including Forbes Rap Mentors , Driven Against the Odds , Indie Nation and Titans on the Rocks . Ineos Grenadier The Ineos Grenadier is an off-road utility vehicle designed and produced by Ineos Automotive . It went into production in October 2022. The Grenadier
1140-407: A wide network of freelancers ("contributors") writes and publishes articles directly on the website. Contributors are paid based on traffic to their respective Forbes.com pages; the site has received contributions from over 2,500 individuals, and some contributors have earned over US$ 100,000, according to the company. The contributor system has been criticized for enabling "pay-to-play journalism" and
1200-510: A year at full capacity. In June 2020, Ineos Automotive unveiled a first look at the exterior design of the Grenadier, as well as some technical information relating to the vehicle's chassis, towing capabilities and suspension. On 7 July 2020, it was reported that Ineos Automotive was in talks with Daimler AG , the owner of Mercedes-Benz , to buy the Smart factory in Hambach, France, and build
1260-659: Is Steve Forbes , and its CEO is Mike Federle . It is based in Jersey City, New Jersey . Competitors in the national business magazine category include Fortune and Bloomberg Businessweek . Published eight times a year, Forbes features articles on finance, industry, investing, and marketing topics. It also reports on related subjects such as technology, communications, science, politics, and law. It has an international edition in Asia as well as editions produced under license in 27 countries and regions worldwide. The magazine
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#17328007413371320-933: 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
1380-510: 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
1440-527: Is hoping that none of the inevitable discussion of the homage to the Defender's design obscures the unique and utilitarian design behind the Grenadier: the roof that doubles as a load rack, the roof tie bars (that go roughly where the Defender 110 has roof lights), the two-piece rear door, the exposed door hinges and the multi-purpose ‘utility rails’ that run along the exterior of the door panels where scuff bars would usually be placed. Jaguar Land Rover brought
1500-587: Is known for its lists and rankings, including of the richest Americans (the Forbes 400 ), lists of 30 notable young people under the age of 30 ( Forbes 30 Under 30 ), America's Wealthiest Celebrities, the world's top companies (the Forbes Global 2000 ), Forbes list of the World's Most Powerful People , and The World's Billionaires . The motto of Forbes magazine is "Change the World". B. C. Forbes ,
1560-466: 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
1620-540: The Asia Society , wrote in The Washington Post that "Since that purchase, there have been several instances of editorial meddling on stories involving China that raise questions about Forbes magazine's commitment to editorial independence." On August 26, 2021, Forbes announced plans to go public via a merger with a special-purpose acquisition company called Magnum Opus Acquisition, and to trade on
1680-577: The Canning Stock Route . While the Grenadier is not a direct replica of a Land Rover Defender (it uses none of the original tooling or componentry), Toby Ecuyer made it clear that their mission was specifically to build a modern Defender, saying it was a 'massive shame' that the outgoing Defender was ceasing production. In an interview with Autocar UK , he explained that their mission initially began with trying to do just that. "We thought, well, we’ll replace it. Then we thought, let’s build
1740-647: The 2009 Times report: "Steve Forbes recently returned from opening up a Forbes magazine in India , bringing the number of foreign editions to 10." In addition, that year the company began publishing ForbesWoman , a quarterly magazine published by Steve Forbes's daughter, Moira Forbes , with a companion Web site. The company formerly published American Legacy magazine as a joint venture, although that magazine separated from Forbes on May 14, 2007. The company also formerly published American Heritage and Invention & Technology magazines. After failing to find
1800-471: The 3.0L B58 inline 6 petrol engine and the 3.0L B57 inline 6 diesel engine. In the Grenadier, the B57 diesel engine makes 183 kW (245 hp; 249 PS) of power (3250-4200rpm) and 550 N⋅m (406 lb⋅ft) of torque (1250-3000rpm). The B58 petrol engine makes 210 kW (282 hp; 286 PS) of power (4750rpm) and 450 N⋅m (332 lb⋅ft) of torque (1750-4000rpm). Both engines come mated to
1860-730: 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
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1920-571: The Grenadier there instead of Wales and Portugal. "It's a serious business consideration," Tennant said. Ken Skates , Welsh Government Minister for Economy, Transport and North Wales said it would be "a real blow if Ineos reneged on its very public commitment". The government of Wales was reported in July 2020 to have spent £5 million on supporting the Ineos factory development at Bridgend with enabling work and road infrastructure, and said at that time that it would "look to recoup appropriate costs from
1980-641: The Grenadier would be manufactured at a bespoke new manufacturing facility on a greenfield site in Bridgend , Wales . Ineos Automotive also confirmed that it would be investing in a sub-assembly plant in Estarreja , Portugal, for the Grenadier's body and chassis. In December 2019, Ineos Automotive announced the Austrian-based Magna Steyr as its engineering partner for the development of the Grenadier. This partnership would oversee turning
2040-599: The Grenadier, stating that the site's location "gives excellent access to supply chains, automotive talent and target markets". Ineos denied on Twitter having received "grants or other direct financial support" from either the Welsh or Portuguese governments. On 29 September 2021, Ineos announced it would locate its North American headquarters in Raleigh, North Carolina . In November 2021, Ineos Automotive revealed that it had made losses exceeding £250 million over three years on
2100-534: 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
2160-704: The New York Stock Exchange as FRBS. In February 2022, it was announced that Cryptocurrency exchange Binance would acquire a $ 200 million stake in Forbes as a result of the SPAC flotation. In June 2022, the company terminated its SPAC merger citing unfavorable market conditions. In August 2022, the company announced that it was exploring a sale of its business. In May 2023, it was announced that billionaire Austin Russell , founder of Luminar Technologies , agreed to acquire an 82 percent stake in
2220-557: The app. David Churbuck founded Forbes ' s web site in 1996. The site uncovered Stephen Glass 's journalistic fraud in The New Republic in 1998, an article that drew attention to internet journalism . At the peak of media coverage of alleged Toyota sudden unintended acceleration in 2010, it exposed the California "runaway Prius" as a hoax, as well as running five other articles by Michael Fumento challenging
2280-549: 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
2340-650: 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
2400-631: The company published 100 articles each day produced by 3,000 outside contributors who were paid little or nothing. This business model, in place since 2010, "changed their reputation from being a respectable business publication to a content farm", according to Damon Kiesow, the Knight Chair in digital editing and producing at the University of Missouri School of Journalism. Similarly, Harvard University's Nieman Lab deemed Forbes "a platform for scams, grift, and bad journalism" as of 2022. In 2017
2460-546: The company" if the Bridgend factory was cancelled. In November 2020, it was announced that Ineos would work with Korean carmaker Hyundai on a longer-term plan to develop a reliable source of hydrogen in Europe to use Hyundai fuel cell technology, with no carbon dioxide emissions , on later Grenadier production. On 8 December 2020, Ineos announced it had purchased the Smartville factory at Hambach, France, to build
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2520-494: The deal collapsed, as Russell was unable to put together the necessary funds. Apart from Forbes and its lifestyle supplement, Forbes Life , the magazine has 42 international editions covering 69 countries: Chairman / Editor-in-chief Steve Forbes and his magazine's writers offer investment advice on the weekly Fox TV show Forbes on Fox and on Forbes on Radio . Other company groups include Forbes Conference Group, Forbes Investment Advisory Group and Forbes Custom Media. From
2580-492: The development project concept into a mass-produced vehicle. Development of the off-roader would see it undergo 1.1 million miles (1.8 million km) as part of a gruelling testing regime. Mark Tennant, the commercial director of Ineos Automotive, told the Financial Times there had been 50,000 expressions of interest before the designs of the vehicle had been made public. The firm expects to build 25,000 Grenadier models
2640-406: The entire media premise of Toyota's cars gone bad. The website (like the magazine) publishes lists focusing on billionaires and their possessions, especially real estate. Forbes.com is part of Forbes Digital, a division of Forbes Media LLC. Forbes's holdings include a portion of RealClearPolitics . Together these sites reach more than 27 million unique visitors each month. Forbes.com employs
2700-527: The idea of building a replacement for his Land Rover Defender and approached Jaguar Land Rover to buy the tooling to continue production after the original model ceased at Solihull after 67 years in January 2016, but the firm declined. Ratcliffe later decided to initiate a project to design and build a similar vehicle under the codename Projekt Grenadier . The vehicle is named after Ratcliffe's favourite pub, The Grenadier , in Belgravia , London , where
2760-456: The initial idea was considered, and where a promotional presentation was shown. Comparing this project to James Dyson 's plan to build an electric car in Singapore , which was cancelled in October 2019, writing off £500 million of his own money, an industry insider commented "If JLR, which made the Defender for 70 years, is struggling, then that's an indicator of how tough it's going to be for
2820-438: The launch Ratcliffe said "The Grenadier project started by identifying a gap in the market, abandoned by a number of manufacturers, for a utilitarian off-road vehicle. This gave us our engineering blueprint for a capable, durable and reliable 4x4 built to handle the world's harshest environments". Steve Cropley, editor-in-chief at Autocar said "The result is a simple, well-proportioned and familiar-looking off-roader." Ecuyer
2880-549: The licensing in 2018, stating that "Our licensing business is almost a pure- profit business , because it's an annual annuity ." Forbes would launch limited promotions for the school in limited issues. Forbes has never formally endorsed the school. On January 6, 2014, Forbes magazine announced that, in partnership with app creator Maz, it was launching a social networking app called "Stream". Stream allows Forbes readers to save and share visual content with other readers and discover content from Forbes magazine and Forbes.com within
2940-475: The magazine was edited by James Michaels . In 1993, under Michaels, Forbes was a finalist for the National Magazine Award . In 2006, an investment group Elevation Partners that includes rock star Bono bought a minority interest in the company with a reorganization, through a new company, Forbes Media LLC, in which Forbes Magazine and Forbes.com, along with other media properties, is now
3000-416: The project. Other companies owned by Ratcliffe made loans to the automotive subsidiary, so that his total commitment at the time could be over £650 million. In January 2022, Ineos's engineering team was caught in a 'one-in-a-hundred year (flood) event' during hot weather testing in outback South Australia. Ineos plans on returning to Australia to complete this testing, along with undertaking an expedition of
3060-454: The publisher's 2012 earnings before interest, taxes, depreciation, and amortization was US$ 15 million. Forbes reportedly sought a price of US$ 400 million. In July 2014, the Forbes family bought out Elevation and then Hong Kong-based investment group Integrated Whale Media Investments purchased a 51 percent majority of the company. In 2017, Isaac Stone Fish, a senior fellow of
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#17328007413373120-596: The rear, and anti-roll bars for road handling. The second Grenadier version is an electric model scheduled to enter production in 2026, to be developed with the Canadian car parts manufacturer Magna International , which already builds vehicles for Mercedes-Benz, BMW, Jaguar Land Rover and the startup Fisker Inc. This Grenadier will be built in a factory in Graz , Austria, that already builds electric SUVs for Jaguar and Fisker. Tennant said that internal combustion engines were best for "rough, tough jobs", and pointed out
3180-433: The repackaging of public relations material as news. Forbes currently allows advertisers to publish blog posts on its website alongside regular editorial content through a program called BrandVoice, which accounts for more than 10 percent of its digital revenue. In July 2018 Forbes deleted an article by a contributor who argued that libraries should be closed, and Amazon should open bookstores in their place. As of 2019
3240-470: The revenue growth was attributed to Forbes’ consumer business, which was up 83 percent year-over-year. CEO Mike Federle says that Forbes is built on an audience and business scale with 150 million consumers. In January 2010, Forbes reached an agreement to sell its headquarters building on Fifth Avenue in Manhattan to New York University ; terms of the deal were not publicly reported, but Forbes
3300-413: The slogan "Home Page for the World's Business Leaders" and claimed, in 2006, to be the world's most widely visited business web site. The 2009 Times report said that, while "one of the top five financial sites by traffic [throwing] off an estimated $ 70 million to $ 80 million a year in revenue, [it] never yielded the hoped-for public offering ". Forbes.com uses a contributor network in which
3360-491: The website blocked internet users using ad blocking software from accessing articles, demanding that the website be put on the ad blocking software's whitelist before access was granted. Forbes argued that this is done because customers using ad blocking software do not contribute to the site's revenue. Malware attacks have been noted to occur from the Forbes site. Forbes won the 2020 Webby People's Voice Award for Business Blog/Website . In November 2019, Forbes launched
3420-684: 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
3480-411: Was designed to be a modern replacement of the original Land Rover Defender , with boxy bodywork, a steel ladder chassis , beam axles with long-travel progressive-rate coil spring suspension (front and rear), and powered by a BMW B58 inline six turbocharged engine. Ineos Automotive Ltd was founded by Sir Jim Ratcliffe , chairman of the multinational chemicals company Ineos . Ratcliffe came up with
3540-546: 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
3600-461: Was to continue to occupy the space under a five-year sale-leaseback arrangement. The company's headquarters moved to the Newport section of downtown Jersey City , New Jersey, in 2014. In November 2013, Forbes Media, which publishes Forbes magazine, was put up for sale. This was encouraged by minority shareholders Elevation Partners . Sale documents prepared by Deutsche Bank revealed that
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