Q: Electric-operated vehicles look like a big part of the future. But I’m wondering about your Successful Investor auto-parts pick Linamar. How is it preparing for the auto industry’s ramp-up of electrical vehicle production? Thanks.
A: Linamar Corp., $78.65, symbol LNR on Toronto (Shares outstanding: 65.5 million; Market cap: $5.2 billion; www.linamar.com), makes a variety of automotive parts, including cylinder heads and cylinder blocks. It also makes self-propelled, scissor-type work platforms under the Skyjack brand as well as agricultural harvesting equipment.
Linamar shares continue to rebound from a low of $24.57 on March 23, 2020. The rise reflects stronger demand for new cars following the initial COVID-19 lockdowns.
The company expects the global production of light vehicles to have risen 10.3% in the first quarter of 2021 to 19.74 million units from 17.90 million a year earlier. However, that’s below its earlier forecast of 20.03 million units and reflects the growing shortage of computer chips, which are used to control a variety of vehicle functions. The chip shortage has forced automakers, mainly in North America and Europe, to slow their production.
Meanwhile, here’s the answer to your specific question:
Linamar continues to invest heavily in the R&D, design expertise…
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