Market Overview

Magna and Rohinni Form JV to Bring Game-Changing Lighting to Mobility

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  • Paves the way for high-volume micro and mini LEDs to enter the mobility space
  • Thin, flexible lighting creates many new possibilities for design and product differentiation
  • Combines Magna's electronics and software expertise with exclusive use of Rohinni's innovative lighting technology

AURORA, Ontario, and COEUR D'ALENE, Idaho, Aug. 28, 2018 (GLOBE NEWSWIRE) -- With distinctive, high-performance lighting becoming a "must-have" for automakers and other mobility companies, Magna Electronics and Rohinni LLC have formed a joint venture to produce ultra-thin micro LED lighting solutions that are brighter, lighter and more energy-efficient than alternative technologies, including OLED.

Magna Rohinni joint venture
The Magna-Rohinni joint venture makes thin-film micro and mini LEDs available to mobility industries for the first time.



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The Magna-controlled joint venture, Magna Rohinni Automotive, combines Magna's world-class electronics manufacturing expertise with exclusive use of Rohinni's lighting technology in mobility industries. The joint venture will be based in Holly, Michigan.

Rohinni's thin-film micro and mini LEDs can be utilized for almost any application, which creates new possibilities for design and product differentiation. Additionally, the company has developed technology to place micro LEDs onto a substrate surface with the speed and accuracy needed to support high-volume production. Freed from cumbersome traditional LED manufacturing techniques, the joint venture will be able to bring micro and mini LED-based products to market more quickly and cost-effectively.

"Our team is extremely excited about partnering with Magna for this joint venture," said Rohinni CEO Matthew Gerber. "Magna brings a global brand and reach, along with many years of automotive market and applications experience to this partnership."

Magna has also made a minority equity investment in Rohinni based on the promising application of their leading micro and mini LED technology in a range of other industries, applications and products.

"This joint venture with Rohinni brings thin, flexible lighting technology that mobility has not seen before," said Magna CTO Swamy Kotagiri. "Current automakers, new mobility companies, other lighting suppliers, and Magna's own product groups all stand to benefit from this collaboration."

TAGS
Automotive lighting, microchip, micro LEDs

INVESTOR CONTACT
Louis Tonelli, Vice-President, Investor Relations
louis.tonelli@magna.com, 905.726.7035

MEDIA CONTACTS
Tracy Fuerst, Global Director of Corporate Communications & PR
tracy.fuerst@magna.com, 248.631.5396

Lisa Gillette-Martin, Senior Account Manager, Kiterocket LLC, for Rohinni
lgmartin@kiterocket.com, 408.205.4732

ABOUT ROHINNI
Rohinni LLC makes beautiful light available anywhere. The company's innovative, proprietary robotic process supersedes complex LED manufacture by placing mini and micro LEDs directly on virtually any substrate at unprecedented speeds, in high volumes, and at greatly reduced cost. Rohinni's disruptive technology lets designers create lighting that is brighter, thinner, lighter, lower power and more dynamic than currently available packaged LED products. Moreover, by removing manufacturing limitations, Rohinni's process is ideally suited for end products ranging from consumer electronics to automotive lighting to outdoor signage – the applications are virtually limitless. Rohinni has broad patent coverage for its micro LED-based products, robotic placement equipment and manufacturing processes. Investors include Tony Fadell, the inventor of the iPod, co-inventor of the iPhone, founder and former CEO of Nest, and principal at Future Shape. For more information, visit www.rohinni.com.

ABOUT MAGNA
We have more than 173,000 entrepreneurial-minded employees dedicated to delivering mobility solutions. We are a mobility technology company and one of the world's largest automotive suppliers with 339 manufacturing operations and 89 product development, engineering and sales centres in 28 countries. Our competitive capabilities include body exteriors and structures, power and vision technologies, seating systems and complete vehicle solutions. Our common shares trade on the Toronto Stock Exchange (MG) and the New York Stock Exchange (MGA). For further information about Magna, visit www.magna.com.

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 http://www.globenewswire.com/NewsRoom/AttachmentNg/8374f99c-220b-4c3b-be49-4ee7e31f29a4

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