Magneti Marelli is off the auction block and revving its engine. Parent company Fiat announced plans to sell Magneti Marelli on a piecemeal basis in 2000, but later decided to infuse the ailing auto parts maker with fresh capital. As part of a restructuring, the company disposed of its lubricants, mechanical components, thermal systems, aftermarket, and chassis systems units. Magneti Marelli's remaining operations include lighting, powertrain, exhaust, and suspension components. Magneti Marelli supplies most of the world's major carmakers, including Ford Motor, General Motors, Nissan, Peugeot, Renault, Toyota, and Volkswagen.
In 2004 the company sold its Midas Europe chain of retail automotive service centers to France's Norauto Group.
The company has been involved in equipping racing autos since it was founded as Fabbrica Italiana Magneti Marelli in 1919. Magneti Marelli Racing was formally established in 1929. Magneti Marelli Motorsport currently supplies alternators, motors, and voltage regulators; data acquisition equipment, displays, and lap triggers; electronic control systems; fuel systems and ignitions; sensors; and software to Formula One racing teams and other racing-circuit competitors.
Magneti Marelli is making headway in the India automotive marketplace. In 2009 the company allied with India-based automotive sales and services provider Carnation Auto to offer premium vehicle servicing. Magneti Marelli will provide equipment and training to get the company's servicing capabilities up to a premium level for higher-end vehicles. In 2008 subsidiary Magneti Marelli Sistemi di Scarico and India-based SKH Metals formed a 50/50 joint venture to manufacture automobile exhaust systems at the Maruti Suzuki Industrial Park near New Delhi. – less