GlobeNewswire Inc | Feb 25, 2021 12:28PM EST

February 25, 2021

-- New business with multiple global automakers starts in 2022 -- Technology allows drivers to see surroundings all around the vehicle -- Enables safer, more convenient driving and parking

AURORA, Ontario, Feb. 25, 2021 (GLOBE NEWSWIRE) -- Global automakers will soon be able to offer 3D surround-view systems in more vehicles, thanks to Magnas new surround view cameras and electronic control units. Starting with 2022 model years and proliferating across multiple customers and vehicle platforms, Magnas next generation cameras and domain controllers will help make the benefits of 3D surround view a driver-assistance technology found mainly in luxury-class vehicles available to more consumers.

Magnas multi-camera system provides a high-resolution, 360-degree field of view around the vehicle. The domain controller then creates a 3D surround-view image by processing the four camera images, rendering a seamlessly stitched 3D view of surroundings in relation to the vehicle. The system helps drivers park in even the tightest of spaces and provides an enhanced level of comfort and convenience.

Magnas system also delivers data to help improve the performance of other vehicle systems such as emergency braking, and automatically detects and warns the driver when the camera lens is impeded by snow, ice, dirt or raindrops.

"By providing a high-performance surround view platform that is cost-effective, were helping our customers bring added safety and convenience to more drivers, said Uwe Geissinger, Magna Electronics President. This broader on-the-road experience serves as an excellent enabler for future levels of autonomous driving that will require advanced 360-degree camera performance and full system integration.

Magna provides advanced driver-assistance systems to automakers around the world, with a focus on the Level 2/2+ systems that serve as the building blocks for future autonomy. Magna-made ADAS can now be found on more than 250 vehicle models, providing features that improve the daily commute and add a layer of driver safety.

TAGSSoftware, ADAS, driver-assistance systems

INVESTOR CONTACTLouis Tonelli, Vice-President, Investor Relations louis.tonelli@magna.com, 905.726.7035

MEDIA CONTACTTracy Fuerst, Vice President, Corporate Communications & PRtracy.fuerst@magna.com, 248-761-7004

ABOUT MAGNAWe are a mobility technology company. We have more than 158,000 entrepreneurial-minded employees and 342 manufacturing operations and 91 product development, engineering and sales centres in 27 countries. We have complete vehicle engineering and contract manufacturing expertise, as well as product capabilities that include body, chassis, exteriors, seating, powertrain, active driver assistance, electronics, mechatronics, mirrors, lighting 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 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 MAGNAS REGULATORY FILINGS. PLEASE REFER TO MAGNAS MOST CURRENT MANAGEMENTS 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 MAGNAS 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 MAGNAS WEBSITE AT WWW.MAGNA.COM.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/70f562d2-ae18-4ec1-8479-6d529e356192