Magna Adds More Than 120 Engineers, Strengthens ADAS Capabilities

• Majority of Optimus Ride engineering team joins Magna
• Bolsters Magna’s expertise in advanced sensing technologies
• Adds engineering center in Boston area

AURORA, Ontario, Jan. 11, 2022 (GLOBE NEWSWIRE) -- Magna has added more than 120 employees of Optimus Ride, a provider of autonomous vehicle and mobility solutions located in Boston, to enhance Magna’s capabilities in the field of advanced driver assistance systems (“ADAS”).

“Growing our engineering bench strength in sensing hardware and software helps accelerate our path forward in a rapidly growing ADAS market,” said John O’Hara, President of Magna Electronics.

The contributions expected from the Optimus Ride employees will be valuable as Magna builds on its strengths and position as a global ADAS provider with comprehensive capabilities.  

The team remains in Boston’s Seaport district, establishing a Boston-based engineering center and presence for Magna in a community rich in engineering talent, leading academic institutions and robotics.

“As advancements in autonomy continue, we saw an opportunity to bring in additional expertise to support current programs as well as future customer needs. We are happy to welcome the Optimus Ride employees to the Magna family,” added O’Hara.

TAGSADAS, technology, autonomous, software

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

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

ABOUT MAGNAMagna 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.

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/c144d34b-146d-4ac1-b762-e1973c987001

Magna strengthens ADAS capabilities with addition of 120 employees from Boston-based startup

Magna strengthens ADAS capabilities with addition of 120 employees from Boston-based startup

You May Also Be Interested In

• Tribal Partners with ServiceNow to Empower Enterprise Teams to Build and Deploy Apps & Agents
• Hope For Ukraine Launches Donation Drive Campaign, Calls on Locals to Provide Hope During Humanitarian Crisis
• 2026 CIFTIS Telecommunication, Computer and Information Services Section Media Briefing Held in Beijing