News Release - Magna Receives Volvo Supplier Quality and Excellence Award
• Magna provides electrified rear axle drive to the Volvo V60 and S60 plug-in hybrids
• Award signifies a commitment to quality excellence and exceeding performance standards
• Criteria span 12 categories from launch performance to continuous improvement
Click here for the PDF version of the release
AURORA, Ontario, April 24, 2017 – Magna International announced its powertrain manufacturing division in Ilz, Austria, has received the Volvo Cars Quality Excellence (VQE) Award for its outstanding performance. The division earned the award by supplying Volvo with the electrified rear axle drive system (eRAD) featured on the Volvo V60 and S60 plug-in hybrid models since 2012.
The VQE Award is based on an assessment of suppliers’ performance over a one-year period in 12 categories, including: customer orientation; plant evaluation; lean manufacturing and logistics; ongoing performance; and launch performance. Suppliers were recognized for strongly demonstrating their commitment to quality excellence and exceeding performance standards.
“Our innovative eRAD system provides benefits in safety, fuel economy and vehicle performance,” said Jake Hirsch, President, Magna Powertrain. “Congratulations to the team at our Ilz manufacturing division for their exemplary service to our customer Volvo and representing Magna with distinction.”
Magna's eRAD system complements a traditional gas- or diesel engine with an independent electric powertrain, which offers multiple hybrid driving modes while also adding four-wheel-drive capability.
Benefits of the system include safety, reduced CO2 emissions, reduced complexity by using existing powertrain/vehicle architectures, and the highest power density rating for any eRAD in production in this class at 50kW peak power.
louis.tonelli@magna.com, 905.726.7035
tracy.fuerst@magna.com, 248.631.5396
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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.
• Award signifies a commitment to quality excellence and exceeding performance standards
• Criteria span 12 categories from launch performance to continuous improvement
Click here for the PDF version of the release
AURORA, Ontario, April 24, 2017 – Magna International announced its powertrain manufacturing division in Ilz, Austria, has received the Volvo Cars Quality Excellence (VQE) Award for its outstanding performance. The division earned the award by supplying Volvo with the electrified rear axle drive system (eRAD) featured on the Volvo V60 and S60 plug-in hybrid models since 2012.
The VQE Award is based on an assessment of suppliers’ performance over a one-year period in 12 categories, including: customer orientation; plant evaluation; lean manufacturing and logistics; ongoing performance; and launch performance. Suppliers were recognized for strongly demonstrating their commitment to quality excellence and exceeding performance standards.
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Volvo presented the award to Georg Koeck, Assistant General Manager, and Martin Resch, Quality Manager, of Magna Powertrain Ilz. |
Magna's eRAD system complements a traditional gas- or diesel engine with an independent electric powertrain, which offers multiple hybrid driving modes while also adding four-wheel-drive capability.
Benefits of the system include safety, reduced CO2 emissions, reduced complexity by using existing powertrain/vehicle architectures, and the highest power density rating for any eRAD in production in this class at 50kW peak power.
TAGS
Volvo, technology, electric rear axle drive, eRAD, supplier awardINVESTOR CONTACT
Louis Tonelli, Vice-President, Investor Relationslouis.tonelli@magna.com, 905.726.7035
MEDIA CONTACT
Tracy Fuerst, Global Director of Corporate Communications & PRtracy.fuerst@magna.com, 248.631.5396
ABOUT MAGNA
We are a leading global automotive supplier with 317 manufacturing operations and 102 product development, engineering and sales centres in 29 countries. We have over 155,000 employees focused on delivering superior value to our customers through innovative products and processes, and world class manufacturing. We have complete vehicle engineering and contract manufacturing expertise, as well as product capabilities which include body, chassis, exterior, seating, powertrain, active driver assistance, vision, closure and roof systems. We also have 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 our website at 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.