Magna Steyr to supply lithium battery system to Volvo Commercial Vehicles

According to the Canadian Financial Post, Magna International Inc. recently announced that it will supply lithium-ion battery systems for Volvo's city buses, heavy trucks, and garbage trucks through its subsidiary Magna Steyr. The production will begin in August of this year and its place of production is in Graz, Austria, where Magna Steyr is located. The value of the order was not announced.

“MagnusTyl has been actively developing alternative energy power systems, especially energy storage systems for electric vehicles for many years,” said Burkhard Goschel, chief technology officer of Magna Power Drive Systems.

In the first quarter of 2009, Magna Steyr's vehicle assembly business fell by 63% to US$401 million. Only less than 31,500 vehicles were assembled—BMW X3, Saab 9-3 Convertible, and Chrysler 300. Jeep Grand Cherokee's assembly volume has declined.

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