News Release - Magna Celebrates Two Milestones in China
New dual-clutch transmission production and plant 10th anniversary?
SHANGHAI, China, October 27, 2016,—Magna International Inc., celebrated start of mass production of the new 3rd generation dual-clutch transmission 7DCT300 at its joint venture plant with Jiangling Motors Co., Group in Nanchang. ?The 7DCT300 is designed for vehicles in the mid-range and compact segment. It is suitable for all-wheel drive applications, as well as fuel-saving functions such as engine start-/stop and advanced sailing, with or without engine stop.?
“The dual-clutch transmission technology sets a unique standard in terms of efficiency, flexibility and shift comfort,” said Young-Ho Lee, CEO of GETRAG Asia Pacific, Magna Powertrain. “With an integrated e-machine, it can also easily be adapted to a hybrid version with scalable performance from mild to plug-in hybrid drive”.
The joint venture with Jiangling Motors called GETRAG (Jiangxi) Transmission Co., Ltd (“GJT”) also celebrated its 10th anniversary. ?A ceremony was held and attended by top executives of Magna Powertrain, local government officials, customer representatives and plant employees. ?“We are proud of the tremendous achievement our joint venture has gained and this anniversary reflects our ability to supply leading edge transmission technology for China and the global market.” said Massimiliano Trantini, General Manager of GJT.
We are a leading global automotive supplier with 309 manufacturing operations and 99 product development, engineering and sales centers 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.rmdozg.live.
# # #
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.rmdozg.live.