News Release - Four Magna Technologies Named Finalists for 2022 Automotive News PACE Awards

Automotive News - PACE Award 2022 Finalist Logo
Automotive News - PACE Pilot Award 2022 Finalist Logo
  • Multiple innovations from Magna identified as finalists, the most received by any company
  • Additional finalist for PACE Pilot award
  • PACE judges will announce winners at award ceremony on September 19, 2022

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AURORA, Ontario, April 22, 2022 – Four Magna product and process innovations were named as finalists for the 2022 Automotive News PACE Awards – the most of any company for the award year.

The Magna innovations on the finalist list include:

  • ICON 4D Digital Radar, which scans the environment around the vehicle in four dimensions with higher resolution and contrast than analog radar.
  • SmartAccess Power Door with Haptronik Motion Control, a complete powered door system that reimagines traditional vehicle interactions.
  • Augmented Reality (AR) Quality Inspection System, which works through a user-operated tablet and a full-scale CAD overlay on the physical part to recognize defects. The tablet guides operators through a standardized step-by-step sequence to verify the quality of the parts.
  • Auto Adjusting Balance Blocks (AABB), a smart die solution offering real-time adjustments to unpredictable disturbances in the stamping process, eliminating the need for line stoppages and user interference.

The company has won five PACE Awards in the last eight years.

Magna also landed a PACE Pilot finalist spot with its Aural 5R Alloy, offering a better performing alloy for structural applications at a lower cost and lower carbon footprint. It is the only aluminum die-cast alloy for structural applications created from 100% recycled materials.

“Having placed multiple finalists among some the industry’s top automotive innovations is a testament to our unmatched capabilities,” said Swamy Kotagiri, Magna CEO. “Our product teams continue to push the boundaries of innovation in product and process and it is exciting to see that the PACE Award judges agree by naming many of our submissions as finalists.”

The Automotive News PACE Awards, in their 28th year, are given to suppliers for game-changing product and process innovations that have succeeded in reaching the market. Winners will be announced on Monday, September 19, 2022, and are determined by an independent panel of judges. Read more about the finalists here.

TAGS
ADAS, Radar, Haptics, Electronics, Mechatronics, Exteriors, Body, Chassis, Structures

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

MEDIA CONTACT
Tracy Fuerst, Vice President, Corporate Communications & PR
tracy.fuerst@magna.com, 248.631.5396

ABOUT MAGNA
We are a mobility technology company. We have more than 152,000 entrepreneurial-minded employees and 346 manufacturing operations and 93 product development, engineering and sales centres in 27 countries. We have complete vehicle engineering and contract manufacturing expertise and product capabilities that include body, chassis, exteriors, seating, powertrain, active driver assistance, electronics, mechatronics, mirrors, lighting, and roof systems. 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.

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