Magna Wins Largest Contract for Transmission Technologies in Company History

• Magna to build dual-clutch transmissions including hybrid variants for strategic partner BMW Group
• Technologies for front-wheel drive vehicle platforms; over 170 different vehicle applications
• Transmissions to be supplied from Magna facilities in Germany and Slovakia

SAILAUF, Germany, Oct. 30, 2019 (GLOBE NEWSWIRE) -- BMW Group has awarded Magna its largest production order for transmission technologies in company history. The multi-year contract includes all front-wheel drive dual-clutch transmissions, including hybrid transmission variants.

Magna to build dual-clutch transmissions including hybrid variants for strategic partner BMW Group.

“This new award is another result of Magna’s commitment to delivering high-quality, flexible and innovative transmissions,” said Tom Rucker, President of Magna Powertrain. “Our scalable dual-clutch transmissions enhance drivability while simultaneously providing optimal levels of efficiency, which makes our product a perfect match for BMW.”

The transmission technologies will be used in more than 170 different vehicle applications. The new hybrid solution by Magna has no impact on the overall package size of the transmission, which provides manufacturing flexibility to BMW. The hybrid variants also use a compact, 48V high-RPM electric motor within the transmission housing, providing innovative driving features while further improving fuel efficiency.

The transmissions will be built at Magna facilities in Neuenstein, Germany, and Kechnec, Slovakia.

INVESTOR CONTACTLouis Tonelli, Vice-President, Investor Relations [email protected], (+1) 905.726.7035

MEDIA CONTACTSTracy Fuerst, Global Director of Corporate Communications & PR[email protected], (+1) 248.631.5396

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

ABOUT MAGNA We are a mobility technology company. We have more than 168,000 entrepreneurial-minded employees and 347 manufacturing operations and 92 product development, engineering and sales centres in 28 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, mirrors & lighting, mechatronics 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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/98c6081b-d590-4531-b215-50794c24e719

Source: Magna International Inc.

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