News Release - Magna Named '2nd Most Innovative Company' in Crain's Detroit Business
• Innovation in electronics business
• Highest ranked among automotive suppliers
• Technology patents paving way for today’s autonomous driving features
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TROY, Michigan, Nov. 29, 2016 — Magna International Inc. has been named the 2nd most innovative company by Crain’s Detroit Business for its electronics business, making it the highest ranked automotive supplier. The annual ranking, which is based on the patent portfolios of companies doing business in Southeast Michigan, looks at criteria including patent quality, projected ability to bring patents to market, and whether patent owners keep their patents or make them public domain.
Magna provides innovative electronic systems to the automotive industry, utilizing extensive experience and deep technology know-how to offer a comprehensive product range and entire system solutions to customers. Magna’s electronics business focuses on electronic controls, cameras, sensors and cyber-secure connectivity to provide drivers with systems offering enhanced safety, efficiency, and convenience. Many of Magna’s electronics patented innovations, which factored into their Crain’s ranking, are already part of vehicles on the road and in dealerships today.
“Magna is proud to be recognized by Crain’s for the contributions we bring to the global marketplace,” said Swamy Kotagiri, Chief Technology Officer and President of Magna Electronics for Magna International. “The innovations behind many of our patents have helped pave the way for today’s autonomous driving technology, and for Magna’s active safety systems. These products demonstrate Magna’s commitment to investing in new ideas to make the driver experience safer and smarter.”
Magna is a leading supplier of vision-based driver assistance systems (ADAS), and many of the company’s 2015 patents relate to continuing innovation in ADAS systems.
• Multi-camera surround view systems that provide a 360-degree view all around a vehicle, including Magna’s SurroundVue™ multi-camera system.
• Forward-viewing camera systems, which keep drivers in-lane, and warn the driver or automatically brake the vehicle if a hazard exists or a collision is imminent; detect oncoming traffic and dim headlights when appropriate; and are smart enough to dim one headlight to not glare oncoming drivers.
• ReversAid™ rear back-up camera systems, which detect open spots and aid in parallel and perpendicular parking, allowing drivers to check rear blind spots when backing up. An important safety feature, this technology will be mandatory in 2018 on all vehicles sold or imported into the U.S.
• CrossTrafficVue™, which helps drivers at blind intersections to evaluate traffic situations.
• Semi-autonomous driving systems, actively in development, will help move the industry from on-demand autonomy with driver supervision to completely autonomous driving systems, which interact with every aspect of the car ecosystem.
Added Kotagiri, “Magna continues to invest in the development of technologies which we believe are leading the way in keeping drivers safe. Being recognized by Crain’s for our contributions is further validation that we are creating the sort of innovation which is advancing the industry.”
Innovation, patent, cameras, safety, ADAS, technology, autonomous driving
Louis Tonelli, Vice-President, Investor Relations
Tracy Fuerst, Global Director of Corporate Communications & PR
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