Magna Leverages Cloud Connectivity and Advanced E-Mobility Innovations to Decrease Emissions and Increase Range
- Wall Street closes rollercoaster week sharply lower
- Invesco (IVZ) Reportedly in Talks to Merge With State Street's (STT) Asset Management Business, Citi Sees More Cons than Pros
- FDA Votes "No" on Pfizer (PFE) Booster for 16+ Age Group, 2 Yes 16 No
- Jefferies Raises Price Targets on Alphabet (GOOGL) and Facebook (FB) as They Are Still Inexpensive Relative to Growth, Reiterates Snap (SNAP) as a Best Growth Idea
- Tesla (TSLA) Could Deliver 900K EV Units This Year and 1.3M in 2022 - Wedbush
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
- Company debuts two advanced electrified propulsion systems on ice and snow-filled test track
- Intelligent, connected PHEV drivetrain reduces emissions by up to 38%
- Next gen AWD eDrive technology extends range by 20% and improves driving dynamics
ARJEPLOG, Sweden, March 04, 2021 (GLOBE NEWSWIRE) -- Magna’s roadmap to e-mobility now includes the company’s all-new connected PHEV drivetrain and next gen battery electric drive systems. Debuting today, both systems were on full display at the company’s Winter Test driving location in northern Sweden. On a frozen track under demanding climatic and driving conditions, the technologies proved their functional advantages including better efficiency, range and driving dynamics.
The Magna EtelligentEco, an intelligent, connected PHEV system that reduces greenhouse gas emissions by up to 38%, offers a unique cloud connectivity feature allowing it to perform several new functions previously not possible. It accounts for local electricity sources when charging is required and recommends a greener power option to the driver.
Additionally, the driver can employ smart cruise control and eco routing which includes topology and traffic status to help determine the most efficient path to a destination. The combination of these features with its specially-tuned operating software and controls, and its all-new dedicated hybrid transmission, enable the significant CO2 reductions.
Within the PHEV is Magna’s dedicated hybrid transmission with a 120-kW e-motor at its functional core. The system performs in dynamic driving situations, as well as launch and reverse driving, all in electric mode. The Magna EtelligentEco offers a driving range of 62 miles.
The Magna EtelligentReach is an all-electric AWD solution with next-gen technology options including intelligent operating software and controls. The advanced technology now delivers an unprecedented range increase and further enhanced driving dynamics. In fact, with innovation upgrades to the software and hardware, the range is extended another 20% or more than 145 km in total when compared to existing vehicles in production.
In addition, the latest updates include an advanced decoupling function, inverters with silicon carbide technology, and a further-improved operating software, which result in advancements that will benefit all of Magna’s electric drive solutions and next-generation hybrid drives.
“As automakers continue to progress towards a zero-emissions future, we are the supplier partner that can give them new and innovative products to help them get there,” said Tom Rucker, President Magna Powertrain. “Based on our vehicle systems expertise and scalable building blocks technology approach, we can match our customers’ needs with complete electrified powertrain solutions as well as subsystems and components.”
TAGSEtelligentEco, EtelligentReach, all-electric AWD solution, powertrain electrification
INVESTOR CONTACTLouis Tonelli, Vice-President, Investor Relations firstname.lastname@example.org, (+1) 905.726.7035
MEDIA CONTACTS Tracy Fuerst, Vice President, Corporate Communications & PRtracy.email@example.com, (+1) 248.761.7004
Rej Husetovic, Director, Corporate Communications & Media Relations Europerej.firstname.lastname@example.org, (+49) 6093 9942-5056
ABOUT MAGNA We are a mobility technology company. We have more than 158,000 entrepreneurial-minded employees and 342 manufacturing operations and 91 product development, engineering and sales centres in 27 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, mechatronics, mirrors, lighting and roof systems. Magna also has electronic and software capabilities across many of these areas. 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.
Photos accompanying this announcement are available at
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Novartis presents new Kisqali® data showing longest median overall survival ever reported in HR+/HER2- advanced breast cancer
- Lumino Ceremony Uses a Combination of Zero-Knowledge Proof and Blockchain to Solve the Limitations of Privacy and Data Security
- Merck’s KEYTRUDA® (pembrolizumab) Plus Chemotherapy Reduced Risk of Death by 27% Versus Chemotherapy as First-Line Treatment for Patients With Metastatic Triple-Negative Breast Cancer Whose Tumors
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!