2023-05-03 07:27:27 ET
- Magna ( NYSE: MGA ) has been awarded a high-volume contract with a Europe-based Global Premium OEM to supply its new eDrive system.
- The eDrive is planned for 2027 model SUVs/sedans, with production expected to begin in 2026.
- Production of the eDrive system will be at the company’s powertrain facilities in Kechnec, Slovakia, and Lannach, Austria, both of which are carbon neutral facilities.
- “The electrified powertrain technologies of the future are being developed today. We are embracing the challenge to innovate and bring to market scalable technology solutions that our customers require. This new business marks an important milestone in our electrification strategy as we continue to consistently pursue new innovations and solutions to drive the rapidly growing EV sector forward.” said Diba Ilunga, President Magna Powertrain.
- Recently, the company hit a major milestone in Mercedes-Benz partnership .
For further details see:
Magna secures eDrive business with Europe-based global OEM