Magna's 48-Volt Hybrid Transmission System Started Production With Stellantis

• Magna's 48-Volt hybrid dual-clutch transmission made its debut on the Jeep Renegade and Compass e-Hybrid, Fiat 500 X and Tipo
• Production taking place in Magna's Slovakia facility
• Agreement includes additional hybrid models in the future for Europe
  

AURORA, Ontario, Oct. 26, 2022 (GLOBE NEWSWIRE) -- Magna's 48-Volt hybrid transmission hit the market on the Jeep Renegade, Compass e-Hybrid, Fiat 500 X and Tipo, the first models from Stellantis to be equipped with a 48-Volt hybrid system. The two companies have signed a multi-program agreement.   

Hybrid technologies are an important step on the path to lower emissions. Magna's hybrid transmission achieves stringent CO₂ targets and offers improved driving dynamics due to electric torque vectoring and traction support.

Magna's 48V 7-speed dual-clutch transmission for hybrids provides a maximum torque of 320 Nm and torque-split technology to optimize the efficiencies of the combustion engine (ICE) and the e-motor. The e-motor is capable of providing propulsion to the vehicle even when the ICE is switched off. This new transmission features independent on-demand cooling for the clutch and e-motor with a single oil circuit for cooling and lubrication, resulting in significant CO₂ reductions in WLTC and real-world driving.

"Our scalable transmission technologies aid our customers in their transition to vehicle electrification which help to achieve regulatory targets. The transmission enhances both efficiency and performance. We are excited that Stellantis has awarded Magna this hybrid transmissions business across multiple vehicle models, a testament to our expertise and capabilities," said Tom Rucker, President, Magna Powertrain.

Magna is producing the 48V hybrid transmission at its division in Kechnec, Slovakia. Further 48V hybrid transmissions are expected to be adopted in additional future Stellantis models.

TAGS
48-Volt Hybrid Transmission, Electrification, Dual-Clutch Transmission, CO₂ Reduction

INVESTOR CONTACT
Louis Tonelli, Vice-President, Investor Relations
[email protected], (+1) (905) 726-7035

MEDIA CONTACT
Tracy Fuerst, Vice President, Corporate Communications and PR
[email protected], (+1) (248) 761-7004

Rej Husetovic, Director Corporate Communications & Media Relations Europe
[email protected], (+49) 6093 9942-5056

ABOUT MAGNA
Magna is more than one of the world's largest suppliers in the automotive space. We are a mobility technology company with a global, entrepreneurial-minded team of 161,000 employees and an organizational structure designed to innovate like a startup. With 65+ years of expertise, and a systems approach to design, engineering and manufacturing that touches nearly every aspect of the vehicle, we are positioned to support advancing mobility in a transforming industry. Our global network includes 341 manufacturing operations and 89 product development, engineering and sales centers spanning 28 countries.

For further information about Magna (NYSE: MGA; TSX: MG), please visit www.magna.com, or follow us on Twitter @MagnaInt.

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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8ee71abc-cddd-4b73-9270-72700abe5e94