Auto manufacturing giant Magna International (MGA) announced today it would be expanding its partnership with General Motors (GM) to supply battery enclosures for the new 2024 Chevy Silverado EV set to begin production later this year.
Magna will produce Chevy Silverado EV’s battery enclosure
Founded over 65 years ago, Magna’s reach extends far in the automotive industry, with 345 manufacturing facilities (130 in North America) and 90 product development, engineering, and sales centers spanning 29 countries.
The company has evolved alongside the changing auto market as the industry moves to electric vehicles.
As one of the world’s largest auto suppliers, Magna develops everything from electric powertrains (through a joint venture with LG Electronics) to driver assist functions and connectivity tech. It even manufactures electric vehicles like the Jaguar I-Pace and Fisker’s flagship Ocean SUV.
After investing $500 million in a 740,000 square-foot expansion at its St Clair, Michigan facility, the site it produces EV battery enclosures for the GMC Hummer EV, Magna is set to take on another GM electric vehicle.
Magna says it will produce battery enclosures for the new 2024 Chevrolet Silverado EV at the Magna Electric Vehicle Structures facility, which opened in 2021. John O’Hara, president of Magna’s body and chassis group, said during the release:
The accelerating shift toward vehicle electrification opens up exciting growth opportunities for Magna beyond powertrain. We have our eye on the future and are proud to play such a critical role in GM’s next generation of electric trucks.
Production of the Silverado EV is expected to begin later this year, with several variants to follow at various price points.
What we know about the 2024 Chevy Silverado EV so far
After over a year of teasing its “category-defining” all-electric truck, the Chevrolet Silverado EV, GM says production is right around the corner.
Chevy has announced two models so far, the Work Truck (WT) and RST editions, with several future variations in the pipeline (including a potential fan-favorite Trail Boss edition).
The Silverado EV WT will be the first to debut this spring. Riding on GM’s Ultium EV platform, it will feature 510 hp and 8,000 lbs towing capacity. Starting at $39,900 + $1,695 DFC (so really $41,595), the WT edition comes with optional features including up to 20,000 lbs (but you will have to wait until 2025 when it is available).
According to Chevy, future variants will be around $50,000 to $80,000 and potentially more with added features such as Multi-Flex Midgate, panoramic sunroof, and Wide Open Watts Mode.
GM hopes the Silverado EV will rival current electric trucks on the market, like the Ford F-150 Lightning and Rivian R1T, along with upcoming challengers like the Tesla Cybertuck and RAM 1500 REV, as it works to gain market share.
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