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Magna-BAIC deal raises prospects for an ‘automotive Foxconn’ in China

“In China, where the future of the car is looking more and more electric, newcomers to the auto industry are looking for partners to help them build their vehicles,” Norihiko Shirouzu reports for Reuters. “Enter Canadian auto supplier Magna International which aims to spearhead a shift to contract vehicle manufacturing through its new partnership with state-owned Chinese carmaker BAIC Group.”