News Release - Magna Wins Largest Contract for Transmission Technologies in Company History
- Magna to build dual-clutch transmissions including hybrid variants for strategic partner
BMW Group - Technologies for front-wheel drive vehicle platforms; over 170 different vehicle applications
- Transmissions to be supplied from Magna facilities in Germany and Slovakia
Click here for the PDF version of the release
SAILAUF, Germany, Oct. 30, 2019 --
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“This new award is another result of Magna’s commitment to delivering high-quality, flexible and innovative transmissions,” said Tom Rucker, President of
The transmission technologies will be used in more than 170 different vehicle applications. The new hybrid solution by Magna has no impact on the overall package size of the transmission, which provides manufacturing flexibility to BMW. The hybrid variants also use a compact, 48V high-RPM electric motor within the transmission housing, providing innovative driving features while further improving fuel efficiency.
The transmissions will be built at Magna facilities in Neuenstein, Germany, and Kechnec, Slovakia.
INVESTOR CONTACT
Louis Tonelli, Vice-President, Investor Relations
louis.tonelli@magna.com, (+1) 905.726.7035
MEDIA CONTACTS
Tracy Fuerst, Global Director of
tracy.fuerst@magna.com, (+1) 248.631.5396
Rej Husetovic,
rej.husetovic@magna.com, (+49) 6093 9942-5056
ABOUT MAGNA
We are a mobility technology company. We have more than 168,000 entrepreneurial-minded employees and 347 manufacturing operations and 92 product development, engineering and sales centres in 28 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, mirrors & lighting, mechatronics and roof systems. Magna also has electronic and software capabilities across many of these areas. Our common shares trade on the
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.
Source: Magna International Inc.