By Adriano Marchese 
 

Magna International Inc. said Tuesday that it has formed a joint venture with Michigan-based LAN Manufacturing to assemble vehicle seats for Ford Motor Co.

The Canadian mobility technology company for automakers said the new JV, in which it will have a 49% ownership, will be named LM Manufacturing and will be responsible for assembling complete seats for various trucks and SUVs for Ford.

The operation will be conducted out of a leased facility in Detroit, and Magna added that production is scheduled to begin in the second quarter of 2023.

Magna said it has received $2 million from the Michigan Strategic Fund as a grant to the JV.

 

Write to Adriano Marchese at adriano.marchese@wsj.com

 

(END) Dow Jones Newswires

February 22, 2022 12:25 ET (17:25 GMT)

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