15:35:29 EDT Mon 11 May 2026
Enter Symbol
or Name
USA
CA



Martinrea International Inc
Symbol MRE
Shares Issued 70,893,671
Close 2026-05-08 C$ 10.80
Market Cap C$ 765,651,647
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Globe says Magna, rivals hear Cdn auto sector at risk

2026-05-11 06:54 ET - In the News

See In the News (C-MG) Magna International Inc

The Globe and Mail reports in its Saturday, May 9, edition that auto manufacturing in Canada is at risk. The Globe's Eric Reguly writes that subsidies alone won't help. This was highlighted by Honda's recent decision to indefinitely suspend its $15-billion investment in Alliston, Ont., for electric vehicles and batteries. The planned Honda plant was set to be a major investment in Canadian industry. The delay is attributed to President Donald Trump's tariffs and declining demand for EVs in North America, alongside Stellantis and GM reducing their operations in Canada. They have closed or sold plants, moved production to the U.S. or dropped third shifts at factories. The situation may worsen under Mr. Trump, who is using tariffs aggressively. He recently increased tariffs on EU car and truck imports from 15 per cent to 25 per cent, and he might target Canadian imports or jeopardize the USMCA agreement, which is currently under review. The point being, Canada is a hard sell for any automaker from any country, except China, looking to expand its global footprint. Three Chinese EV companies -- BYD, Chery and Xiaomi -- are considering producing EVs in Ontario, though the definition of "making" needs clarification.

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