MG Magna International Inc

As CES 2024, one of the world’s largest and most powerful tech events, opens its doors, Magna is off to an electrifying start with the global unveiling of its next generation 800V eDrive solution that sets new standards in efficiency, power-to-weight ratio and torque density.

Magna’s next generation eDrive is a drop-in solution that incorporates several advanced technologies, resulting in significant reductions in weight and size, enhanced performance, extended driving range and sustainability. It offers enhanced flexibility due to its lightweight (75 kg) design and 20% reduction in height from Magna’s prior generation eDrive.

A key technology and a supplier industry-first advancement is the ability to rotate the eDrive 90 degrees around the drive axis, which allows improved system integration in the front and rear vehicle space. The system also achieves up to 93% efficiency in real-world driving (including WLTC and highway), which significantly improves efficiency across a wide range of vehicle speeds, making it more versatile.

"We are steadfast in our commitment to creating exceptional driving experiences while supporting a sustainable future," said Diba Ilunga, President of Powertrain at Magna. "Our next generation eDrive is a true embodiment of this pledge, showcasing unparalleled sustainability in both its product design and production methodology. Through seamless integration of our systems, we have successfully reduced our reliance on aluminum and heavy rare earth materials, resulting in a significant reduction of CO₂ emissions during production by approximately 20% compared to previous generation eDrives. This exceptional achievement serves as a tangible testament to our dedication to sustainable innovation, as we forge ahead towards a brighter, greener future."

Offering versatility to its customers, Magna’s next generation eDrive can be applied as a primary or complementary secondary drive solution with an optional eDecoupling unit for vehicles in the C, D, and E segments. It delivers a peak power of 250 kW and a peak axle torque of 5,000 Nm.

For more information on this and other Magna technologies on display at CES, go to www.magna.com/CES2024 or visit West Hall booth #3725 in the Las Vegas Convention Center.

TAGSCES, Electrification, EcoInnovation, eDrive, Product & Technology

INVESTOR CONTACTLouis Tonelli, Vice-President, Investor Relations louis.tonelli@magna.com, 905-726-7035

MEDIA CONTACTTracy Fuerst, Vice President, Corporate Communications & PRtracy.fuerst@magna.com, 248-761-7004

ABOUT MAGNAMagna is more than one of the world’s largest suppliers in the automotive space. We are a mobility technology company built to innovate, with a global, entrepreneurial-minded team of over 181,000 employees across 344 manufacturing operations and 104 product development, engineering and sales centers spanning 29 countries. With 65+ years of expertise, our ecosystem of interconnected products combined with our complete vehicle expertise uniquely positions us to advance mobility in an expanded transportation landscape.

For further information about Magna (NYSE:MGA; TSX:MG), please visit www.magna.com or follow us on social.

THIS RELEASE MAY CONTAIN STATEMENTS WHICH CONSTITUTE “FORWARD-LOOKING STATEMENTS” UNDER APPLICABLE SECURITIES LEGISLATION AND ARE SUBJECT TO, AND EXPRESSLY QUALIFIED BY, THE CAUTIONARY DISCLAIMERS THAT ARE SET OUT IN MAGNA’S REGULATORY FILINGS. PLEASE REFER TO MAGNA’S MOST CURRENT MANAGEMENT’S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND FINANCIAL POSITION, ANNUAL INFORMATION FORM AND ANNUAL REPORT ON FORM 40-F, AS REPLACED OR UPDATED BY ANY OF MAGNA’S SUBSEQUENT REGULATORY FILINGS, WHICH SET OUT THE CAUTIONARY DISCLAIMERS, INCLUDING THE RISK FACTORS THAT COULD CAUSE ACTUAL EVENTS TO DIFFER MATERIALLY FROM THOSE INDICATED BY SUCH FORWARD-LOOKING STATEMENTS. THESE DOCUMENTS ARE AVAILABLE FOR REVIEW ON MAGNA’S WEBSITE AT WWW.MAGNA.COM.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/283269b8-445d-48e0-8477-2aff016e382e