? Company’s “Power and Vision” segment recognized for contributions in lighting and drivelines
? Awards recognize the most innovative tech and highest quality
? Magna continues to deliver innovations to long-time customer General Motors
?for a PDF version of the release.
TROY, Mich., April 27, 2018 — After supplying innovative technologies to help improve lighting and driveline performance for General Motors’ customers, Magna drove off with two GM Supplier of the Year awards at the automaker’s 26th annual Supplier of the Year awards ceremony in Orlando, Florida.
GM’s Supplier of the Year award is reserved for suppliers that distinguish themselves by going above and beyond GM’s requirements, providing customers with the most innovative technologies and highest quality in the automotive industry.Magna CEO Don Walker and executives from Magna’s lighting team at the GM Supplier of the Year awards ceremony.
“Thank you to our long-time customer General Motors for presenting us with these prestigious awards,” said Swamy Kotagiri, Magna Chief Technology Officer. “We are proud to be recognized for the continuous innovation across our company.”
One example of the lighting Magna supplies GM is the D-Optic LED headlamp, an industry-first that uses multiple high-power LEDs and can be custom-developed to a vehicle's specific styling. This technology debuted on the 2018 Chevrolet Traverse and provides a unique design while also improving forward visibility.
In the driveline area Magna supplies GM with products such as the single-speed Actimax transfer case, two-speed Ultimax transfer case, electronic limited slip differential and Actimax beveloid transfer case. These products provide a variety of benefits to GM vehicles, including improved handling and performance, dynamic four-wheel and all-wheel drive, and optimized fuel efficiency. Magna’s powertrain portfolio covers a wide range of architectures and is positioned to support increased electrification in vehicles.?
“To win in the market place, we need to deliver vehicles with outstanding value and quality while featuring the latest innovations,” said Steve Kiefer, GM Senior Vice President, Global Purchasing and Supply Chain. “We look forward to continue working with our supplier partners as we provide GM customers with the best vehicles and services in the industry.”
GM Supplier of the Year award, automotive lighting, drivelines
Louis Tonelli, Vice-President, Investor Relationsfirstname.lastname@example.org
Tracy Fuerst, Global Director of Corporate Communications & PRtracy.email@example.com
We have more than 168,000 entrepreneurial-minded employees dedicated to delivering mobility solutions. We are a technology company and one of the world's largest automotive suppliers with 335 manufacturing operations and 96 product development, engineering and sales centres in 28 countries. Our competitive capabilities include body exteriors and structures, power and vision technologies, seating systems and complete vehicle solutions. Our common shares trade on the Toronto Stock Exchange (MG) and the New York Stock Exchange (MGA). For further information about Magna, visit www.kuknfu.tw
# # #
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.kuknfu.tw