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Magna International Inc
Symbol MG
Shares Issued 267,396,346
Close 2026-07-14 C$ 90.77
Market Cap C$ 24,271,566,326
Recent Sedar+ Documents

Globe says Magna, rivals await Dongfeng's EVs

2026-07-15 09:29 ET - In the News

Also In the News (C-LNR) Linamar Corp
Also In the News (C-MRE) Martinrea International Inc

The Globe and Mail reports in its Wednesday edition that Chinese carmaker Dongfeng Motor Corp. is aiming to enter the Canadian market next year under a new pact between Ottawa and Beijing, but it's taking a soft-sell approach to build interest in its vehicles before they hit dealerships. The Globe's Nicolas Van Praet and Jason Kirby writes that the Dongfeng offered a sneak peak of its lineup in Montreal on Tuesday, displaying six models at the Grand Quay in the city's Old Port. The company will also hold a cocktail event with VIPs Wednesday. It's possibly the first such prelaunch by a Chinese automaker in Canada. Dongfeng has earmarked two vehicles for import into Canada that are now undergoing federal certification: The Vigo mini SUV and the Box subcompact. Both are electric cars expected to retail for under $35,000. Julie Mazorra Fernandez, director of North World Industry, which will distribute Dongfeng vehicles in Canada, said, "We really want to show that these are quality cars that are affordable." There are some worries that Canada's low import quotas of Chinese vehicles will create an imbalance in supply and demand that will bid up their value -- and "reselling them like Pokémon cards," said attendee.

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