Magna announced the termination of the merger agreement with Veoneer

5 October 2021, 04:34:35

Magna announced the termination of the merger agreement with VeoneerMagna International Inc. today announced that the board of directors of Veoneer, Inc. has determined that the previously announced proposal by Qualcomm Incorporated to acquire Veoneer for $37 per share is a superior proposal under the terms of the previously announced merger agreement between Magna and Veoneer, and that Magna has waived the four-day matching period to make a counterproposal. Accordingly, Veoneer has terminated its merger agreement with Magna and entered into a merger agreement with Qualcomm. In connection with the termination of the merger agreement with Magna, Veoneer will pay a termination fee of $110 million to Magna.

Related news

News related to Magna, Veoneer or Qualcomm

Qualcomm and SSW Partners reach definitive agreemnet to acquire Veoneer

Qualcomm and SSW Partners today announced they have reached a definitive agreement to acquire Veoneer, Inc. for $37.00 per share in an all-cash transaction, representing a total equity value for Veoneer of $4.5 billion. Veoneer has terminated its prior acquisition agreement with Magna International Inc. and canceled its October 19, 2021, special meeting that was previously scheduled to approve that agreement. At...

5 October 2021

Qualcomm submitted a proposal to acquire Veoneer

Qualcomm announced it has submitted an offer to acquire the autotech company Veoneer for $37 per share, in an all-cash transaction. Its offer has been approved by Qualcomm's Board of Directors, does not require Qualcomm stockholder approval, and has no financing conditions. This proposed acquisition is consistent with Qualcomm's growth and diversification strategy. It reinforces the company's commitment to bring...

5 August 2021

LG and Magna sign JV agreement and announce leadership team

LG and Magna signed the transaction agreement which establishes a joint venture between the two companies. The new company, to be called LG Magna e-Powertrain, is headquartered in Incheon, South Korea and will be led by a strong management team. Leading the new company will be CEO Cheong Won-suk, a 20-year LG veteran who was most recently vice president and head of the LG Vehicle component Solutions Company’s Green...

30 July 2021

The LG Magna e-Powertrain JV will begin operations this month

The LG Magna e-Powertrain is a joint venture between LG Electronics of Korea and Magna International of Canada. It is set to start operations this month. LG will participate by separating a part of its VS Business Division. Magna will invest USD 453 million to secure a 49% stake. By mid-July, the new business entity should be established. LG Magna e-Powertrain will produce inverters, motors, and in-vehicle chargers...

2 July 2021

Magna debuts its new EtelligentReach BEV drive system

Magna introduced its all-new connected Magna EtelligentEco PHEV drivetrain and next-gen Magna EtelligentReach battery-electric drive systems. Both were on full display at the company’s Winter Test driving location in northern Sweden. On a frozen track under demanding climatic and driving conditions, the technologies proved their functional advantages including better efficiency, range, and driving dynamics. We're...

8 March 2021

LG and Magna create the LG Magna e-Powertrain JV for e-motors, inverters and onboard chargers

LG and Magna announced a joint venture (JV) to manufacture e-motors, inverters and onboard chargers and, for certain automakers, related e-drive systems to support the growing global shift toward vehicle electrification. The new company, tentatively called LG Magna e-Powertrain, marries Magna's strength in electric powertrain systems and world-class automotive manufacturing with LG’s expertise in component...

23 December 2020

Magna cooperates with Fisker on the Fisker Ocean

As part of Magna's strategic direction to support traditional automakers as well as new entrants, the company announced that it has signed agreements with Fisker Inc. that provide the framework for a platform sharing and manufacturing cooperation for the Fisker Ocean SUV. Fisker, an e-mobility automaker, announced plans to start production in the fourth quarter of 2022. The Fisker Ocean will initially be...

16 October 2020

The ArcFox α-T by Magna and BAIC is launched during the 2020 Beijing Auto Show

The ArcFox α-T is a new compact crossover created by the joint venture of the BAIC division called BJEV and Canadian auto component manufacturer Magna International. The production version of the vehicle has been launched during the 2020 Beijing Auto Show. The model is available in several versions, which are named and priced as follows: ArcFox α-T 480S/480S+ with 480 km of NEDC range costs CNY 250,000 - CNY 265,000...

27 September 2020

EV Specifications

Complete specifications of EVs, grouped according to their brand and year

AudiBMWBytonChevroletDaciae.GOFIATFordHondaHyundaiJaguarKIAMazdaMercedes-BenzMGMININIONissanOpelPeugeotPolestarPorscheRenaultRivianSEATŠKODAsmartTeslaVolkswagenVolvo

Featured

Specifications of some of the most interesting and anticipated EVs.

2022 KIA EV6

2022 KIA EV6 Extended Range 4WD GT

Length: 184.8 in / 4695 mm
Height: 61.0 in / 1550 mm
Location: Rear
Location: Front
Battery: 77.4 kWh, Voltage: 697 V

2022 KIA EV6

2022 KIA EV6 Extended Range 4WD GT-Line S

Length: 184.8 in / 4695 mm
Height: 61.0 in / 1550 mm
Curb weight: 4530.5 lb / 2055 kg
Electric motor #1: 165 kW @ 4500 - 7700 rpm, 350 Nm @ 4500 - 7700 rpm, Location: Rear
Electric motor #2: 74 kW @ 4500 - 7700 rpm, 255 Nm @ 4500 - 7700 rpm, Location: Front
Battery: 77.4 kWh, Voltage: 697 V

2022 KIA EV6

2022 KIA EV6 Extended Range 4WD GT-Line

Length: 184.8 in / 4695 mm
Height: 61.0 in / 1550 mm
Curb weight: 4497.43 lb / 2040 kg
Electric motor #1: 165 kW @ 4500 - 7700 rpm, 350 Nm @ 4500 - 7700 rpm, Location: Rear
Electric motor #2: 74 kW @ 4500 - 7700 rpm, 255 Nm @ 4500 - 7700 rpm, Location: Front
Battery: 77.4 kWh, Voltage: 697 V

2022 BMW iX xDrive50

2022 BMW iX xDrive50

Doors: 5, Seats: 5
Length: 195.0 in / 4953 mm
Width: 77.4 in / 1967 mm
Height: 66.8 in / 1696 mm
Curb weight: 5379.28 lb / 2440 kg
Electric motor #1: 250 kW, 400 Nm, Location: Rear
Electric motor #2: 200 kW, 352 Nm, Location: Front
Battery: 111.5 kWh, Voltage: 330.3 V

2022 BMW i4 M50

2022 BMW i4 M50

Doors: 5, Seats: 5
Length: 188.3 in / 4783 mm
Width: 72.9 in / 1852 mm
Height: 57.0 in / 1448 mm
Curb weight: 5048.59 lb / 2290 kg
Electric motor #1: 230 kW @ 8000 - 17000 rpm, Location: Rear
Electric motor #2: 190 kW @ 8000 - 17000 rpm, Location: Front
Battery: 83.9 kWh, Voltage: 398.5 V

2022 Hyundai IONIQ 5

2022 Hyundai IONIQ 5 Long Range AWD

Doors: 5, Seats: 5
Length: 182.5 in / 4635 mm
Width: 74.4 in / 1890 mm
Height: 63.2 in / 1605 mm
Location: Rear
Location: Front
Battery: 72.6 kWh, Voltage: 800 V

2022 Hyundai IONIQ 5

2022 Hyundai IONIQ 5 Long Range RWD

Doors: 5, Seats: 5
Length: 182.5 in / 4635 mm
Width: 74.4 in / 1890 mm
Height: 63.2 in / 1605 mm
Electric motor: 160 kW, 350 Nm, Location: Rear
Battery: 72.6 kWh, Voltage: 800 V

2022 Chevrolet Bolt EUV

2022 Chevrolet Bolt EUV Launch Edition

Doors: 5, Seats: 5
Length: 169.5 in / 4305 mm
Width: 69.7 in / 1770 mm
Height: 63.6 in / 1616 mm
Curb weight: 3679.52 lb / 1669 kg
Electric motor: 150 kW, 360 Nm, Location: Front
Battery: 65 kWh, Voltage: 350 V

2022 Chevrolet Bolt EUV

2022 Chevrolet Bolt EUV Premier

Doors: 5, Seats: 5
Length: 169.5 in / 4305 mm
Width: 69.7 in / 1770 mm
Height: 63.6 in / 1616 mm
Curb weight: 3679.52 lb / 1669 kg
Electric motor: 150 kW, 360 Nm, Location: Front
Battery: 65 kWh, Voltage: 350 V

2022 Chevrolet Bolt EV

2022 Chevrolet Bolt EV Launch Edition

Doors: 5, Seats: 5
Length: 163.2 in / 4145 mm
Width: 69.5 in / 1765 mm
Height: 63.4 in / 1611 mm
Curb weight: 3589.13 lb / 1628 kg
Electric motor: 150 kW, 360 Nm, Location: Front
Battery: 65 kWh, Voltage: 350 V

2022 Chevrolet Bolt EV

2022 Chevrolet Bolt EV 2LT

Doors: 5, Seats: 5
Length: 163.2 in / 4145 mm
Width: 69.5 in / 1765 mm
Height: 63.4 in / 1611 mm
Curb weight: 3589.13 lb / 1628 kg
Electric motor: 150 kW, 360 Nm, Location: Front
Battery: 65 kWh, Voltage: 350 V

2021 Volkswagen ID.3

2021 Volkswagen ID.3 Pro S Tour

Doors: 5, Seats: 4
Length: 167.8 in / 4261 mm
Width: 71.2 in / 1809 mm
Height: 61.7 in / 1568 mm
Curb weight: 4263.74 lb / 1934 kg
Electric motor: 110 kW, 310 Nm, Location: Rear
Battery: 45 kWh, Voltage: 408 V

2021 Volkswagen ID.3

2021 Volkswagen ID.3 Pro Performance Max

Doors: 5, Seats: 5
Length: 167.8 in / 4261 mm
Width: 71.2 in / 1809 mm
Height: 61.7 in / 1568 mm
Curb weight: 3979.34 lb / 1805 kg
Electric motor: 150 kW, 310 Nm, Location: Rear
Battery: 58 kWh, Voltage: 408 V

2021 Opel Mokka-e

2021 Opel Mokka-e Launch Edition

Doors: 5, Seats: 5
Length: 163.4 in / 4151 mm
Width: 70.5 in / 1791 mm
Height: 60.3 in / 1532 mm
Electric motor: 100 kW, 260 Nm, Location: Front
Battery: 50 kWh

2021 Hyundai KONA Electric

2021 Hyundai KONA Electric Ultimate 64 kWh

Doors: 4, Seats: 5
Length: 164.6 in / 4180 mm
Width: 70.9 in / 1800 mm
Height: 61.2 in / 1555 mm
Curb weight: 3836.04 lb / 1740 kg
Electric motor: 150 kW @ 3600 rpm, 395 Nm, Location: Front
Battery: 64 kWh, Voltage: 356 V

2021 Tesla Model 3

2021 Tesla Model 3 Performance AWD

Doors: 4, Seats: 5
Length: 184.8 in / 4694 mm
Width: 72.8 in / 1849 mm
Height: 56.8 in / 1443 mm
Curb weight: 4100.6 lb / 1860 kg
Electric motor #1: 211 kW, Location: Rear
Electric motor #2: 147 kW, Location: Front
Battery: 79.5 kWh, Voltage: 360 V

2021 Tesla Model 3

2021 Tesla Model 3 Long Range AWD

Doors: 4, Seats: 5
Length: 184.8 in / 4694 mm
Width: 72.8 in / 1849 mm
Height: 56.8 in / 1443 mm
Curb weight: 4071.94 lb / 1847 kg
Electric motor #1: 188 kW, Location: Rear
Electric motor #2: 147 kW, Location: Front
Battery: 79.5 kWh, Voltage: 360 V

2021 Tesla Model Y

2021 Tesla Model Y Performance AWD

Doors: 4, Seats: 5 / 7
Length: 187.0 in / 4751 mm
Width: 75.6 in / 1921 mm
Height: 63.9 in / 1624 mm
Curb weight: 4415.86 lb / 2003 kg
Location: Rear
Location: Front
Battery: 74 kWh