Skip to main content

Market Overview

Magna Leverages Cloud Connectivity and Advanced E-Mobility Innovations to Decrease Emissions and Increase Range

Share:
  • Company debuts two advanced electrified propulsion systems on ice and snow-filled test track
  • Intelligent, connected PHEV drivetrain reduces emissions by up to 38%
  • Next gen AWD eDrive technology extends range by 20% and improves driving dynamics 

ARJEPLOG, Sweden, March 04, 2021 (GLOBE NEWSWIRE) -- Magna's roadmap to e-mobility now includes the company's all-new connected PHEV drivetrain and next gen battery electric drive systems. Debuting today, both systems were on full display at the company's Winter Test driving location in northern Sweden. On a frozen track under demanding climatic and driving conditions, the technologies proved their functional advantages including better efficiency, range and driving dynamics.

The Magna EtelligentEco, an intelligent, connected PHEV system that reduces greenhouse gas emissions by up to 38%, offers a unique cloud connectivity feature allowing it to perform several new functions previously not possible. It accounts for local electricity sources when charging is required and recommends a greener power option to the driver.

Additionally, the driver can employ smart cruise control and eco routing which includes topology and traffic status to help determine the most efficient path to a destination. The combination of these features with its specially-tuned operating software and controls, and its all-new dedicated hybrid transmission, enable the significant CO2 reductions.

Within the PHEV is Magna's dedicated hybrid transmission with a 120-kW e-motor at its functional core. The system performs in dynamic driving situations, as well as launch and reverse driving, all in electric mode. The Magna EtelligentEco offers a driving range of 62 miles.

The Magna EtelligentReach is an all-electric AWD solution with next-gen technology options including intelligent operating software and controls. The advanced technology now delivers an unprecedented range increase and further enhanced driving dynamics. In fact, with innovation upgrades to the software and hardware, the range is extended another 20% or more than 145 km in total when compared to existing vehicles in production.

In addition, the latest updates include an advanced decoupling function, inverters with silicon carbide technology, and a further-improved operating software, which result in advancements that will benefit all of Magna's electric drive solutions and next-generation hybrid drives.

"As automakers continue to progress towards a zero-emissions future, we are the supplier partner that can give them new and innovative products to help them get there," said Tom Rucker, President Magna Powertrain. "Based on our vehicle systems expertise and scalable building blocks technology approach, we can match our customers' needs with complete electrified powertrain solutions as well as subsystems and components."

TAGS
EtelligentEco, EtelligentReach, all-electric AWD solution, powertrain electrification

INVESTOR CONTACT
Louis Tonelli, Vice-President, Investor Relations
louis.tonelli@magna.com, (+1) 905.726.7035

MEDIA CONTACTS
Tracy Fuerst, Vice President, Corporate Communications & PR
tracy.fuerst@magna.com, (+1) 248.761.7004

Rej Husetovic, Director, Corporate Communications & Media Relations Europe
rej.husetovic@magna.com, (+49) 6093 9942-5056

ABOUT MAGNA
We are a mobility technology company. We have more than 158,000 entrepreneurial-minded employees and 342 manufacturing operations and 91 product development, engineering and sales centres in 27 countries. We have complete vehicle engineering and contract manufacturing expertise, as well as product capabilities which include body, chassis, exterior, seating, powertrain, active driver assistance, electronics, mechatronics, mirrors, lighting and roof systems. Magna also has electronic and software capabilities across many of these areas. 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.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/d0750645-e5a3-4524-8ec0-0fb01a9f029e

https://www.globenewswire.com/NewsRoom/AttachmentNg/0954d957-e0c7-4655-926e-58832a1d949c


Primary Logo

View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com