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Magna Expands Long-Term Innovation Partnership with Mercedes-Benz

1. Magna expands partnership with Mercedes-Benz for electrical off-roader innovations. 2. eDS Duo electric drive system enhances performance of new off-road vehicles. 3. Over 500,000 off-roaders produced, showcasing long-term collaboration success. 4. Magna's flexible powertrain solutions signify transition to battery electric vehicles.

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FAQ

Why Bullish?

The continued partnership and innovative solutions may boost investor confidence, similar to past collaborations leading to increased stock performance.

How important is it?

The partnership with Mercedes-Benz and introduction of new technologies are crucial for MGA's future revenue streams.

Why Long Term?

The long-term partnership and continuous development signal sustained growth potential for MGA over years.

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Ongoing collaboration underscores commitment to innovation and excellence in the automotive industryPartnership strengthened through development and engineering services up to the production of the all-new electric model of Mercedes-Benz’s iconic off-roaderMagna’s eDS Duo electric drive system demonstrates innovative approach to delivering advanced powertrain solutions AURORA, Ontario, Feb. 11, 2025 (GLOBE NEWSWIRE) -- For several decades, Magna has been a strategic partner to Mercedes-Benz, creating a legacy of innovation and excellence. This collaboration has spanned multiple areas of the vehicle, including powertrain and drivetrain systems, ADAS technologies, body and chassis components, electrification, interior systems, vehicle assembly, and more. “Strong partnerships with our customers are essential for driving innovation and advancing the automotive industry,” said Eric Wilds, Magna Chief Strategy & Commercial Officer. “Our continued partnership with Mercedes-Benz exemplifies how working together can lead to groundbreaking solutions and mutual success.” This long-term partnership includes the production of more than 500,000 iconic off-roader at Magna’s Graz, Austria facility since 1979. In 2024, Magna began production of the eDS Duo, a unique eDrive system with exceptional traction properties, at its Lannach, Austria facility, marking a new chapter in the partnership. The all-new electric model of the iconic off-roader is now equipped with this advanced electric drive system for leading performance and efficiency. “Having supplied three generations of transfer cases for Mercedes-Benz’s iconic off-roader, Magna is honored to now equip this legendary vehicle with its first generation of electric units,” said Diba Ilunga, President of Magna Powertrain. “The eDS Duo demonstrates Magna's flexible approach to delivering powertrain solutions, transitioning seamlessly from internal combustion engines to battery electric vehicles.” A 2-speed, dual e-motor drive covering a power range of up to 240 kW, the eDS Duo offers leading traction and off-road capabilities, including a unique wheel-individual propulsion system that enables features like the "G-Turn," allowing the vehicle to rotate 360 degrees in place. With optimized efficiency and advanced silicon carbide and decoupling technology, the eDS Duo delivers exceptional performance while maintaining high efficiency. For more information on Magna’s innovative electric powertrain systems, visit the company’s product page. 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 175,000 employees across 343 manufacturing operations and 107 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. Magna’s eDS Duo combines a 2-speed, dual e-motor drive with advanced offroad technology A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0d1a46fd-64a9-485d-b0b1-9465ea84ad35

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