GlobeNewswire Inc | Mar 11, 2021 01:10PM EST

March 11, 2021

-- Magnas eBeam technology provides ability to retain pickup truck capability while transitioning to electrification -- First significant change to solid beam rear axle in trucks in more than 100 years -- Power ranges can exceed 220 kW

AURORA, Ontario, March 11, 2021 (GLOBE NEWSWIRE) -- Magna continues to accelerate its powertrain electrification capabilities to help automakers achieve a zero-emission future. Today, the journey to a cleaner tomorrow continues with Magnas new eBeam technology which is scalable and gives automakers the ability to electrify their trucks without sacrificing utility and functionality. eBeam integrates with a battery electric or hybrid powertrain system and offers a structure-oriented design to support high-payload vehicles, with matching power for continuous-duty usage.

Designed specifically to transition pickup trucks and light commercial vehicles to hybrid or full battery electric powertrain systems, eBeam integrates with existing truck architectures, without requiring unique suspension, chassis or brake systems. This approach presents an economical solution that helps bring new electrified trucks to market more quickly, while also preserving towing and payload capabilities.

It is a bold endeavor to electrify pickup trucks, whose owners demand the towing and hauling capabilities they are currently used to, and weve accomplished it with our eBeam technology, said Tom Rucker, President, Magna Powertrain. We know axles are core elements of a trucks strength, and we are excited to have developed the first significant improvement to the solid beam axle in over 100 years.

With power ranges between 120 kW and 250 kW, automakers can choose from three variants within Magnas eBeam family:

-- Single motor, single speed -- Single motor, two speeds, or -- Twin motor, single speed including torque vectoring.

To support electric four-wheel drive, Magna also offers several complete powertrain solutions incorporating an electric drive system at the front of the truck, including advanced software and controls for seamless integration.

Click here to learn more on how the company is making an all-electric truck possible while keeping its strength and functionality.

TAGSeBeam, electrification, powertrain electrification, rear axles

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/9929b899-0377-45f3-a19c-1eccb4615c61