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MGA Magna International Inc

47.6966
-0.4134 (-0.86%)
Last Updated: 17:48:27
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
  -0.4134 -0.86% 47.6966 47.75 47.17 47.61 5,172,496 17:48:27

Magna expands all-wheel-drive leadership by supplying Dynamax on new Kia Sorento

18/05/2015 3:33pm

PR Newswire (Canada)


Magna (NYSE:MGA)
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Optimized handling, increased safety, improved fuel efficiency

AURORA, ON, May 18, 2015 /CNW/ - Magna International Inc., the largest independent 4WD/AWD supplier globally, announced today the company is supplying its intelligent Dynamax™ all-wheel drive coupling on a global basis to power the all-wheel-drive (AWD) system of the all-new Kia Sorento. With Dynamax, the Sorento provides drivers with optimized handling, increased safety and improved fuel efficiency.

(Photo: http://photos.prnewswire.com/prnh/20150518/216675)

"We are excited to expand our successful partnership with Kia Motors by supplying our Dynamax system to the third-generation Sorento, and we are proud to support Kia globally with this innovative product," said Jake Hirsch, president of Magna Powertrain.

Magna's Dynamax system is the first continuous and fully active AWD system that exchanges information with the control electronics of the car, allowing it to anticipate events and adjust early-on rather than react to changing conditions like previous AWD systems. By ensuring that Dynamax is one step ahead of the car, ideal torque and traction can significantly improve stability, performance and fuel efficiency.

The multi-plate coupling of the Dynamax system and its energy-efficient electronic components boost the track stability of the front axle, effectively preventing unwanted under- and over-steering, and thus improving both safety and driving enjoyment. The system's high-thermal stress tolerance also protects the AWD system from overheating, even during long and/or steep climbs.

The Dynamax all-wheel-drive coupling is manufactured by the WIA-Magna Powertrain joint venture in Asan, Chungcheongnam-do, South Korea, and shipped to Kia's Sorento assembly locations in South Korea and the United States.  The Dynamax system was first introduced in 2010 on the Kia Sportage.

About Magna International

We are a leading global automotive supplier with 316 manufacturing operations and 87 product development, engineering and sales centres in 29 countries. We have approximately 133,000 employees focused on delivering superior value to our customers through innovative products and processes, and World Class Manufacturing. Our product capabilities include producing body, chassis, interior, exterior, seating, powertrain, electronic, vision, closure and roof systems and modules, as well as complete vehicle engineering and contract manufacturing. 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 2015 Canada NewsWire

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