Magna International, a Canada-based mobility technology company for automakers, has announced plans to invest $790m (C$1.05bn) to open three new facilities in the US state of Tennessee.
Two of these – a 75,000m² frame and battery enclosures facility and a 13,000m² seating facility – will be based in the town of Stanton, which is located a short drive away from Memphis. The frame and battery facility will create 750 jobs and the seating facility 300. Both are expected to open in 2025.
The third facility is a 37,000m² stamping and assembly plant in the city of Lawrenceburg, which sits between Nashville and Huntsville. It will create 250 jobs and is also expected to open in 2025.
Magna was formed in 1957 and is headquartered in Aurora, Ontario. The company has around 158,000 employees across its global operations, which include about 350 manufacturing plants and 91 product development, engineering and sales centres in 27 countries.
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