Magna International
PublicWorld's largest automotive parts manufacturer by North American OEM sales, founded in 1957 by Frank Stronach in Toronto. Operates 342 manufacturing facilities across 27 countries with 158,000 employees. Investor in Sanctuary AI's general purpose humanoid robots.
Introduction
Magna was founded in 1957 by Frank Stronach, an Austrian immigrant, with $300 borrowed and a rented Toronto garage. His first contract: metal sun visor brackets for General Motors in 1959. Taken public in 1969, renamed Magna International in 1973.
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Management Team
Company Story
Magna International is the largest automobile parts manufacturer in North America ($43 billion revenue, 179,000 employees). Through a strategic partnership with Sanctuary AI, Magna is both piloting Phoenix humanoid robots in its factories and serving as the contract manufacturer for the robot.
History
Magna Technology Investments participated in Sanctuary AI's $75.5 million Series A in March 2022. This created a three-fold relationship: investor, contract manufacturer, and end user.
In April 2024, Sanctuary's Phoenix began pilot testing in Magna manufacturing facilities. Magna's role extends to serving as contract manufacturer for Phoenix production at scale.
Magna already manufactures complete vehicles for Mercedes-Benz, Jaguar, and BMW at its Graz facility. Applying this expertise to humanoid robots positions it at the intersection of automotive manufacturing and Physical AI.