According to Canadian news service globeinvestor.com, auto parts giant Magna International Inc. has expanded its push into leading-edge environmental technologies with the purchase of BluWav Systems LLC.
BluWav develops and supplies electric and energy-management systems for hybrid electric vehicles, plug-in hybrids and battery-powered electric vehicles, which are a key focus of auto makers as they try to meet stringent new U.S. fuel economy guidelines that come into place by 2020.
Magna is targeting those vehicles as a critical area of growth in the next decade.
“BluWav provides technical leadership in multiple product areas for Magna Electronics,” said Carlos Mazzorin, president of that Magna division.
No financial details of the purchase were revealed. BluWav is based in Rochester Hills, Mich., and can be found on the web at http://www.wavecrestlabs.com/
