ELECTRIC CARS
Canadian automotive supplier Magna revs up hybrid deal
San Francisco — Canadian automotive supplier Magna International will produce BMW’s new 5-series plug-in hybrid at its Austrian factory, the company said on Monday, part of a strategy to produce electric cars on a contract basis for global vehicle makers. The BMW 530 plug-in hybrid will be made from this northern summer at Magna’s plant in Graz, Austria, where it plans to start producing Jaguar’s I-PACE sport utility vehicle in 2018. Global car makers and their suppliers are investing heavily in fully electric and petrol-electric hybrid vehicles. Consumer demand is still low versus that for petrol engine vehicles, but companies are beginning to offer more choices to respond to government mandates for greater sales of vehicles that emit little or no carbon dioxide and prepare for a future experts believe will be dominated by electric vehicles.
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