Magna's new China headquarters in Shanghai. [Photo/WeChat ID: shcnsw]
Leading automotive technology supplier Magna recently established its new China headquarters in the Changning area of the Hongqiao International Central Business District in Shanghai.
The opening ceremony was accompanied by a celebration of the company's 20th anniversary in the Chinese market. Unveiling a new headquarters on such a special occasion underscores Magna's commitment to deepening its roots in China, a market that has become crucial to its global operations.
The new headquarters spans over 10,000 square meters and will house more than 700 employees from various divisions and departments within Magna China.
Magna CEO Swamy Kotagiri speaks at the celebration marking two decades of successful operations in China. [Photo/WeChat ID: shcnsw]
In his speech, Magna CEO Swamy Kotagiri highlighted the rapid transformation of the automotive industry, driven by advancements in electrification, autonomous driving, and the evolving landscape of car manufacturers.
"China is at the forefront of this transformation, reshaping the future of the industry," said Kotagiri. "As a partner, supplier, and source of innovation in the Chinese automotive sector, Magna will be faced with immense opportunities and continue to grow and evolve alongside the Chinese market."
Wu Zhen, president of Magna China, speaks at the ceremony. [Photo/WeChat ID: shcnsw]
Wu Zhen, president of Magna China, reflected on the company's remarkable journey over the past two decades, emphasizing its significant achievements and partnerships with local clients.
"China is an essential strategic market for Magna. We will continue to deepen our engagement here, exploring new growth opportunities and leveraging our innovative capabilities and operational excellence to shape the future of mobility alongside the Chinese automotive industry," Wu said.
Magna's expansion in China is demonstrated by its over 60 manufacturing facilities and more than 30,000 employees across the country. The company reported a 15-percent growth in its Chinese operations in 2024, with approximately 60 percent of its sales generated from local auto manufacturers.
