Canada’s Magna International is aggressively pursuing the new technologies automakers need for autonomous and electric vehicles, but CEO Don Walker says the supplier can't forget its core business.
Magna is developing lidar and radar technology and camera-based solutions for autonomous vehicles. In August, Magna took a driverless car on an international test drive from Windsor, Ont., to Traverse City, Mich.
But Walker believes autonomous vehicles won’t have a mass-market presence until at least 2045, once costs come down and appropriate legislation is in place.
“The cost for a full autonomous vehicle will still mean it’s a long way out,” Walker said in an interview for the Automotive News series “Redesigning the Industry.”
He has a more-ambitious forecast for electric vehicles.
“We don’t see pure electric vehicles having big penetration until the 2030 time period. But they are coming,” he said.
In the meantime, Walker said “just working on the core business can be very good business.”
“There are advances coming, but a vehicle is still a vehicle,” he said, noting cars need seats, frames and bodies. “But you need to have a blend.”
You can watch Walker’s interview with Automotive News in the video below.