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MGA Magna International Inc

47.66
-0.76 (-1.57%)
04 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Magna International Inc NYSE:MGA NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  -0.76 -1.57% 47.66 47.50 46.11 46.80 3,988,059 01:00:00

Magna doubles down on active aerodynamics

20/09/2016 3:22pm

PR Newswire (US)


Magna (NYSE:MGA)
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Innovative active body systems reduce drag, improve fuel efficiency

AURORA, ON, Sept. 20, 2016 /PRNewswire/ - With global automakers continuing to address the challenge of increasing fuel economy and reducing carbon emissions in their vehicles, Magna International Inc. has accelerated its development work in active aerodynamic systems, an innovative technology designed to help auto manufacturers clear regulatory hurdles.

Actero™ Active Aerodynamic Systems from Magna include exterior vehicle systems such as active grille shutters, active front deflectors and others. A vehicle's aerodynamic profile is a major contributor to its fuel economy, and Magna's innovative solutions combine styling with aero to take drag-reduction technology to a new level.

"Our Actero Active Aerodynamic products represent new opportunities and expand our innovative portfolio which offers unique solutions to our customers," said Grahame Burrow, President of Magna Exteriors. "The development and success of these systems reflect our expertise as one of the market leaders in exterior products."

The latest Actero product to reach the market is a visible active grille shutter system on a 2017 European luxury vehicle. The system is a first for Magna in that the louvers which electronically open and close to deflect air are located on the outer, visible surface of the vehicle's grille rather than hidden behind. Magna originally developed and commercialized its first active grille shutter system for a 2013-model-year vehicle in just 18 months, a rapid development cycle made possible by the company's expertise in automotive front-end modules and fascias.

Actero systems are driven by smart actuators and are an example of the increasing use of electronics in today's automobiles. The actuators speak directly with the vehicle's internal electronic communication system and ensure the aero systems deploy correctly, based on vehicle inputs such as speed, temperature and drive mode. 

Magna has significantly grown its active aerodynamic business in recent years, and the trend is expected to continue. Since the company's production debut in active aerodynamics in 2012, Magna has been awarded more than 15 programs while continuing to develop additional products and systems within its Actero portfolio.

"Delivering innovative solutions such as our active aerodynamic systems provide added value for our customers as they work towards meeting rising fuel economy standards," said Swamy Kotagiri, Magna's Chief Technology Officer. "Commercializing cleaner technologies is one of our key focus areas for innovation."

About Magna
We are a leading global automotive supplier with 309 manufacturing operations and 99 product development, engineering and sales centres in 29 countries. We have over 152,000 employees focused on delivering superior value to our customers through innovative products and processes, and World Class Manufacturing. We have complete vehicle engineering and contract manufacturing expertise, as well as product capabilities which include body, chassis, exterior, seating, powertrain, electronic, active driver assistance, vision, closure 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 our website at 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.

SOURCE Magna International Inc.

Copyright 2016 PR Newswire

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