The Latest Breaking News from Magna

XPeng Inc. (NYSE:XPEV) has partnered with Magna International Inc. (NYSE:MGA) to assemble two electric vehicle models in Europe.

Magna International (NYSE:MGA) shares gained on Friday after the second-quarter fiscal 2025 earnings. The auto parts maker reported a quarterly revenue decline of 3% year-on-year to $10.63 billion, beating the analyst consensus estimate of $10.08 billion.

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Police in Canada recently charged Frank Stronach, the founder of auto parts manufacturer Magna International, with multiple sexual offences dating back to 1977. The charges include rape, indecent assault, sexual assault and forcible confinement. Stronach’s lawyer has said he “categorically denies” the allegations.

Court documents show that Austrian-Canadian auto parts billionaire Frank Stronach is accused of sexually assaulting seven new complainants in alleged incidents from 1977 to as recently as February

Canadian police say Austrian-Canadian billionaire Frank Stronach was arrested again and is facing additional sexual assault charges

A court document filed this week shows Austrian-Canadian auto parts billionaire Frank Stronach is accused of sexually assaulting three different complainants in alleged incidents that took place in Toronto and Aurora, Ontario

Learn about the sexual assault charges against billionaire Frank Stronach and his denial of allegations, urging potential victims to come forward.