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Magna Awarded Vehicle Assembly Business With Chinese OEM XPENG

1. Magna partners with XPENG for electric vehicle assembly in Europe. 2. First Chinese OEM for Magna in Europe, production starts Q3 2025. 3. Partnership enhances Magna's expertise in electric vehicle localization. 4. XPENG aims to strengthen European market presence with this collaboration. 5. Magna's extensive experience supports the evolving automotive industry's needs.

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Why Bullish?

This partnership opens new revenue streams for MGA and aligns with EV growth trends. Historical partnerships have often led to stock appreciation, reflecting market confidence.

How important is it?

The article signifies a major shift in MGA's operational focus towards the EV segment, increasing its market competitiveness.

Why Long Term?

The collaboration aims for sustained growth in Europe, significant beyond immediate production. Historically, strategic long-term partnerships have translated to sustained price momentum.

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XPEVTSLAGMFRIVN
New program marks the first Chinese automaker to localize production in Magna’s complete vehicle operations in EuropeMagna to assemble two fully electric vehicle modelsSerial production is set to begin in Q3 2025 AURORA, Ontario, Sept. 15, 2025 (GLOBE NEWSWIRE) -- As Chinese car manufacturers enter the European market, the need for localized production is growing. Today, Magna has announced that XPENG, a Chinese smart electric vehicle manufacturer, has selected the company to assemble two new models for the European market. Serial production of these new smart electric vehicles will begin in Q3 2025, marking the start of a long-term collaboration for future models. For nearly 20 years, Magna has supported Chinese automakers with complete vehicle engineering, and since 2018, with domestic manufacturing and assembly services. This newly awarded program marks the first complete vehicle assembly with a Chinese OEM out of Magna’s operations in Graz, Austria, aligning with XPENG’s commitment to European localization. “We are thrilled to collaborate with XPENG, marking a significant milestone as our first Chinese OEM partner here in Europe,” said Roland Prettner, President Magna Complete Vehicles. “This partnership underscores our commitment to innovation and flexibility in meeting the evolving needs of the automotive industry. By leveraging our extensive experience and state-of-the-art facilities, we are well-positioned to support XPENG’s ambitious goals for the European market.” Magna is a key strategic partner for OEMs that are looking to expand their presence within the region. With its range of capabilities, including being a world leader in brand independent contract manufacturing, Magna offers comprehensive automotive expertise, flexibility, and experience working with a wide range of OEMs. Due to this positioning, Magna is able to provide tailored and swift support to automotive manufacturers.   “Our partnership with Magna fits perfectly in our vision and strategy to strengthen our European capabilities,” said Brian Gu, Vice Chairman and President of XPENG. “It is a first step in our growth in Europe as we have a long-term commitment to Europe.” With over 125 years of vehicle manufacturing expertise, Magna has established a global network of partners and suppliers. The company has developed more than 40 complete vehicles and derivatives and produced more than 4 million vehicles.  To learn more about Magna’s complete vehicle capabilities, visit www.magna.com/products/complete-vehicles/. INVESTOR CONTACT Louis Tonelli, Vice President, Investor Relations louis.tonelli@magna.com │ 905.726.7035 MEDIA CONTACT Tracy Fuerst, Vice President, Corporate Communications & PRtracy.fuerst@magna.com │ 248.761.7004 ABOUT MAGNA INTERNATIONALMagna is more than one of the world’s largest suppliers in the automotive space. We are a mobility technology company built to innovate, with a global, entrepreneurial-minded team of over 164,000 employees across 338 manufacturing operations and 106 product development, engineering and sales centres spanning 28 countries. With 65+ years of expertise, our ecosystem of interconnected products combined with our complete vehicle expertise uniquely positions us to advance mobility in an expanded transportation landscape. For further information about Magna (NYSE:MGA; TSX:MG), please visit www.magna.com or follow us on social. 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/550039f8-00e7-4ec7-b315-15cd35239880 Magna's Vehicle Assembly Line Magna partners with XPENG to assemble new EVs dedicated to the European market

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