First-Ever All-Electric Jaguar Unveiled at Magna

• World premiere of the Jaguar I-PACE
• Magna is only contract manufacturer that can build vehicles across a range of propulsion systems
• Second Jaguar model that will be built by Magna

GRAZ, Austria, March 02, 2018 (GLOBE NEWSWIRE) -- Magna's complete vehicle manufacturing facility in Graz, Austria, hosted Jaguar Land Rover for the automaker's presentation of their latest model, the new Jaguar I?PACE.

The event marks the start of production of the brand's first-ever all-electric car. Magna Steyr is the only contract manufacturer in the world building vehicles with different propulsion systems at one plant and on one production line.

The Jaguar I-PACE is the second Jaguar Land Rover model built by Magna. The first, the Jaguar E-PACE, made its debut in 2017 also at the complete vehicle manufacturing facility in Graz.

The world premiere of the I-PACE included many VIPs and customers, and the presentation was broadcast live on Jaguar's social media channels. The guests of the reveal ceremony also had the chance to go for a test drive and experience the new vehicle first-hand.

In 2018 approximately 200,000 vehicles will be produced at Magna's location in Graz; four different models for three automakers will be manufactured.

TAGS
I-PACE, SUV, Jaguar Land Rover, E-mobility, Magna Steyr, complete assembly, contract manufacturing

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ABOUT MAGNA
We have more than 168,000 entrepreneurial-minded employees dedicated to delivering mobility solutions. We are a technology company and one of the world's largest automotive suppliers with 335 manufacturing operations and 96 product development, engineering and sales centres in 28 countries. Our competitive capabilities include body exteriors and structures, power and vision technologies, seating systems and complete vehicle solutions.  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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A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/8c2ab57d-aeea-456f-86ad-63b52e442a91