Magna Reaches eDrive Gearbox Production Milestone and Wins Additional Business in China
April 19 2021 - 8:00AM
On the heels of reaching a production milestone for its eDrive
gearboxes, Magna has won additional business to further support
Chinese electric vehicle (EV) start-ups. Supporting the
fast-growing EV market in China, Magna’s joint venture with
Jiangling Motors Co., Ltd. celebrated a major milestone, achieving
its 100,000th eDrive gearbox produced.
Magna’s plant in Jiangxi began production of eDrive
gearboxes in 2018 that featured: high efficiency; best-in-class
power density; excellent noise, vibration and harshness
performance; and a complete torque range from 200Nm to 530Nm.
Today, they are found in various car models from sedans to SUVs for
several Chinese automakers including NIO and Xpeng.
With the success of these programs, Magna continues
to win new business for eDrive technologies with EV start-ups.
“As powertrain electrification accelerates,
especially in the Chinese market, we are positioned well to
continue supporting automakers in their continued efforts to bring
electrified vehicles to market quickly,” said Tom Rucker, President
of Magna Powertrain. “Magna’s competitive advantage is attributed
to our flexible approach to this growing market by offering both
complete systems as well as e-components to our customers.”
Magna continues to deliver comprehensive
electrification solutions from mild hybrid to battery electric
vehicles as the industry progresses toward a cleaner future.
The company leverages a
set of scalable building blocks that continue to supply
industry leading traditional powertrain solutions while at the same
time supporting the need for electrified systems and
components.
TAGSPowertrain electrification,
eDrive gearbox, electric vehicles, NIO, Xpeng
INVESTOR CONTACTLouis Tonelli,
Vice-President, Investor Relations louis.tonelli@magna.com,
905.726.7035
MEDIA CONTACTTracy Fuerst, Vice
President, Corporate Communications & PRtracy.fuerst@magna.com,
248.761.7004
ABOUT MAGNAWe 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 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.
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A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/38c18606-c2c5-4d03-a521-90af9fed07b3
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