Magna International Inc. MGA

• First high-volume contract award for new product supports various vehicle models globally with ICE transmissions
• New modular Dual Clutch Transmission enables seamless hybrid transition on the same vehicle platform with minor changes
• Efficient and compact design with optimized torque-to-weight ratio results in lower CO² emissions, contributing to a cleaner future

AURORA, Ontario, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Magna is accelerating the industry’s move toward a cleaner future with the debut of its innovative Dual Clutch Transmission Eco (DCT Eco) solution for a European OEM. This contract marks the first high-volume award for the new transmission family and supports various models in global markets with ICE transmissions.

A Media Snippet accompanying this announcement is available by clicking on this link.

While the awarded business is exclusively for non-hybridized ICE vehicles, Magna’s DCT Eco can be easily tailored to support both ICE and hybrid powertrain strategies on the same vehicle platform needing only minor changes. Its modular design provides high efficiency and an excellent torque-to-weight ratio in a very compact form, delivering significant CO² benefits in conventional B- and C-segment vehicles.

"We are taking an agnostic approach in supplying power to wheels, and our DCT Eco is a great example of a cost-efficient and flexible solution," said Diba Ilunga, President Magna Powertrain. "Today, we are seeing increased customer demand for hybrids worldwide to further reduce CO² emissions. While our transmission award will support non-hybridized ICE vehicles, our Eco product family can serve as a stepping-stone for any customer looking to facilitate future hybridization of their vehicle platforms without the need for expensive vehicle restructuring.”

Magna’s building block strategy allows for easy scalability of the DCT Eco, enabling OEMs to easily hybridize their platforms staying in the same Dual Clutch Transmission base architecture. Magna’s HDT Eco (Hybrid Drive Transmission) 48V or HV and DHD Eco (Dedicated Hybrid Drive) support everything from 48V mild hybrids up to 120 kW 400 Volt solutions.

Magna has already started production for this program. The DCT Eco was successfully launched in vehicle models earlier this year in South America, with various European models set to follow in 2025.

To learn more about Magna’s complete Eco family of scalable transmissions, 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 & PR
tracy.fuerst@magna.com, 248-761-7004

ABOUT MAGNA
Magna 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 177,000 employees across 345 manufacturing operations and 105 product development, engineering and sales centers 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.

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