Magna Brings EyeQ5-Based Driver Assistance System to Market
- Tech pulls Nasdaq, S&P 500 down as Treasury yields rise
- Merck (MRK) Said to Be Unidentified Suitor for Acceleron Pharma (XLRN), Not Bristol-Myers Squibb (BMY) - Report
- EV Company Polestar To Go Public Via $20 Billion SPAC Deal
- Amazon (AMZN) Price Target Lowered at Morgan Stanley Amid Rising Logistics Workforce Costs, Analyst Expects Stock to be Range Bound in Near Term
- Oil up on tight supply, Brent crude nears $80 a barrel
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
- One of the industry’s first “one-box” EyeQ5 front-facing camera systems
- Magna’s electronics and camera expertise, Mobileye’s image-processing technology
- Magna ADAS systems are found on more than 250 vehicle models on the road today
TROY, Mich., Nov. 24, 2020 (GLOBE NEWSWIRE) -- A premium automaker in Europe will soon be able to offer industry-leading driver assistance features across a larger portion of its vehicle lineup, thanks to the next generation of camera-based driver assistance from Magna.
The Magna Gen5 “one-box” solution is a Mobileye EyeQ5-based system – one of the industry’s first where the forward-facing camera and related software are contained in a single assembly. Benefits include lower cost, simplified installation on the assembly line, and the ability for the technology to be applied to a wider range of an automaker’s lineup. The system will provide drivers with safety and convenience features such as adaptive cruise control, automatic emergency braking and pedestrian detection.
As with previous generations, the system combines Magna’s electronics and camera expertise with Mobileye’s system-on-chip (SoC) image-processing technology. The camera features a 120-degree, 8-megapixel optical path, while Magna has continued to refine its world-class camera manufacturing processes to achieve the quality and volumes required of global vehicle platforms. Mobileye collaborated with Magna engineers to ensure that the EyeQ5 met and exceeded new requirements related to the launch program.
“At Magna, our ADAS capability has been built on automotive cameras, evidenced by more than 500 U.S. patents in the last 15 years,” said Uwe Geissinger, President of Magna Electronics. “As demonstrated by our long collaboration with Mobileye and the introduction of our new Gen5 system, we’re constantly working to deliver innovative systems to our customers and help make vehicles safer and more enjoyable to drive.”
“We have been working with Magna on camera-based ADAS since 2007, and our collaboration continues to provide leading-edge driver-assistance features,” said Erez Dagan, Executive Vice President for Products and Strategy at Mobileye. “This latest system represents a new level of performance and functionality, and we’re already looking for ways to make subsequent generations even better.”
Magna provides global automakers with ADAS technologies – including the PACE Award-winning Trailer Angle Detection, Automatic Emergency Braking, and rearview object and pedestrian detection – to more than 250 vehicle models on the road today.
TAGSAutomotive camera systems, camera-based ADAS, automotive electronics
INVESTOR CONTACTLouis Tonelli, Vice President, Investor Relations firstname.lastname@example.org, (+1) 905.726.7035
MEDIA CONTACTTracy Fuerst, Vice President, Corporate Communications & PRtracy.email@example.com, (+1) 248.631.7004
ABOUT MAGNA We are a mobility technology company. We have over 157,000 entrepreneurial-minded employees, 344 manufacturing operations and 93 product development, engineering and sales centres in 27 countries. We have complete vehicle engineering and contract manufacturing expertise, as well as 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.
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/cf925241-95aa-4512-be68-d2071c01bcb3
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- CGG: Sercel Awarded Major Seismic Equipment Contract in North Africa
- BGHL (EUR): NAV(s)
- WISeKey Reports H1 2021 Results
Create E-mail Alert Related CategoriesGlobe Newswire, Press Releases
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!