05:01:58 EDT Fri 20 Oct 2017
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Magna International Inc
Symbol C : MG
Shares Issued 380,265,511
Close 2017-06-16 C$ 57.30
Recent Sedar Documents

Magna Int'l plant to produce BMW 530e plug-in hybrids

2017-06-19 15:45 ET - News Release

Mr. Guenther Apfalter reports

MAGNA TO PRODUCE BMW 5-SERIES PLUG-IN HYBRID; DEMONSTRATES MAGNA'S VEHICLE ELECTRIFICATION EXPERTISE; BUILDS ON A STRATEGIC PARTNERSHIP THAT HAS BEEN IN PLACE FOR MORE THAN 15 YEARS; ADDS SECOND ELECTRIFIED VEHICLE PROGRAM TO LINE-UP IN GRAZ

BMW's new 530e plug-in hybrid will be produced at Magna International Inc.'s contract manufacturing plant in Graz, Austria, starting in summer 2017. As a contract manufacturing partner for two premium electrified vehicles -- the BMW 530e and the previously awarded Jaguar I-PACE -- Magna's Graz facility is demonstrating its value proposition to its customers.

This vehicle program further demonstrates the trust BMW places in Magna's expertise in contract manufacturing and electrified products. Production of the new BMW 5 Series marks the successful continuation of the strategic partnership between the BMW Group and Magna that started over 15 years ago. The first BMW produced in Graz, an X3 SUV, rolled off the assembly line in Graz in 2003.

"We are excited to be adding another electrified vehicle architecture to our lineup," said Guenther Apfalter, president of Magna Steyr. "Vehicle electrification is a growing trend in the industry, and, with our complete vehicle know-how, we are in a great position to help our customers meet the demands."

Magna started the split production on the BMW 5 Series sedan in March of this year and will commence production of the Jaguar I-Pace, its first electric car, in the first quarter of 2018. This year, the company celebrates a milestone of more than three million vehicles produced in total for various automakers over the life of the plant in Graz.

About Magna International Inc.

Magna International is a leading global automotive supplier with 321 manufacturing operations and 102 product development, engineering and sales centres in 29 countries. The company has over 159,000 employees focused on delivering superior value to its customers through innovative products and processes, and world-class manufacturing.

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