# BluWav/Wave Crest bought by Magna International



## david85 (Nov 12, 2007)

As an update, founder and CEO of Magna International Frank Stronach has been making the rounds in Ottawa and met with canadian government officials and also appeared on CTV's "powerplay" (political affairs show).

He is suggesting that government loans for his company to build electric cars would certainly help, but he made point of saying that it is NOT required and would make the attempt with or without government help. It would simply take longer if he had to go it alone so to speak.

Magna is already building cars from the ground up and despite not being a household name, many of the cars they make for BMW, Volvo and others are well known. This is basically a company that folks like GM and ford go to for parts and prototyping service all the way up to delivering of complete assembled cars. Magna does have the tooling and the proprietory technology to do this now that they have wavecrest's assets in addition to fully functioning auto assembly lines.

If this goes ahead, it would mean the founding of a 100% canadian automaker that already has the experience in the mainstream auto industry and is still profitable even in these hard times.

The ford focus EV demonstrator prototype is supposed to have a 100 mile range and be highway capable. The prototype was seen and driven in ottawa a few days ago and it does not appear to be vaporware. Some of you may have seen other videos of the car being driven a few months ago. If only my saturn was ready I could compete with Frank LOL!

Will anything ever come of it? I sure hopes so, but we'll have to wait and see.

Anyway, I think this is a story worth following and I'll keep this thread updated if I find anything else out. Feel free to add or comment, this is a forum after all


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