Magna Secures Business For Hybrid Dual-Clutch Transmission Program

• Next generation compact and mid-size transmissions launching in 2025 with Mercedes-Benz
  
  
• Two HDT programs to launch in the coming months with additional global OEMs
  
  
• Shift to hybrid electric DCTs provides long-term stability for transmission business

AURORA, Ontario, Dec. 02, 2021 (GLOBE NEWSWIRE) -- With the shift to electrified vehicles speeding up in society's pursuit of cleaner and more efficient mobility, Magna is enabling global automakers to electrify their vehicle platforms with a full range of hybrid and fully electric powertrain solutions. The company has today confirmed that it has received a Hybrid Dual-Clutch Transmission (HDT) award from Mercedes-Benz for next generation compact and mid-size vehicles, further demonstrating Magna's continuing transformation in the electrification of mobility.

"This award is a result of our long-term collaboration with Mercedes-Benz and their trust in our transmission technology expertise. It confirms that hybrid technologies play a key role on the path to electrification and highlights the value of a diverse powertrain portfolio in the transition toward electrification," said Swamy Kotagiri, Magna's Chief Executive Officer.

Magna's powertrain expertise is supplying power to the wheels, regardless of the power source. The company is able to supply traditional products as well as electrified components and systems to automakers as they migrate their vehicle offerings toward hybrid and electric vehicles.

Two other HDT programs will launch in the coming months with global OEMs as the company further extends its foothold into powertrain electrification.

TAGS
Powertrain electrification, hybrid DCT, HDT, transmissions

INVESTOR CONTACT
Louis Tonelli, Vice-President, Investor Relations
[email protected], 905.726.7035

MEDIA CONTACT
Tracy Fuerst, Vice President, Corporate Communications & PR
[email protected], 248.761.7004

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 154,000 employees and an organizational structure designed to innovate like a startup. With 60+ 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 347 manufacturing operations and 90 product development, engineering and sales centres spanning 28 countries.

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

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