Components of EV battery trays are prepared to be welded at Magna's Heart Lake production facility in Brampton, Ont., in 2023.

Magna International MG-T raised its annual sales forecast on Friday, as the Canadian auto parts supplier leans on demand for its vehicle assembly business and safety systems.

The results follow peers Aptiv APTV-N and BorgWarner BWA-N warning of production snarls from a supply crunch related to Dutch firm Nexperia and a fire at a critical aluminum supplier.

Magna, which counts Ford, General Motors, Stellantis and other European automakers as customers, expects its annual sales to be between US$41.1-billion ($57.6-billion) and US$42.1-billion ($59-billion), up from its prior range of US$40.4-billion ($56.6-billion) to US$42.0-billion ($58.8-billion).

U.S.-l

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