GlobeNewswire Inc | Nov 9, 2021 08:00AM EST

November 09, 2021

-- Magnas battery enclosures protect power source -- Key technology to enable electric vehicles -- Lightweight aluminum enclosure helps minimize battery mass

AURORA, Ontario, Nov. 09, 2021 (GLOBE NEWSWIRE) -- When the all-electric Ford F-150 Lightning hits showrooms next spring, Magna battery enclosures innovation will be protecting the trucks important power source.

Battery enclosures, which all electric vehicles require, house high-voltage batteries, electrical components, sensors and connectors, contributing to the structural and safety aspects of a vehicles frame and protecting critical components from potential impact, heat and water. Additionally, the lightweight aluminum enclosure helps minimize added mass from the trucks battery.

Magna is proud to play a role in the all-electric Ford F-150 Lightning, said John Farrell, President of Cosma International, Magnas body and chassis group. The shift toward electrification is significant for our industry, and it brings Magna many opportunities to leverage our extensive expertise in engineering and manufacturing to meet those challenges.

The F-150 Lightning battery enclosures will be the first built by Magna for Ford in the North American market. For the battery enclosure aluminum extrusions and stampings are assembled using a combination of laser hybrid and cold metal transfer (CMT) welding for robustness.

Magna is leveraging its body and chassis expertise, which leads the industry in vehicle structures, to provide a comprehensive range of capabilities and engineering solutions to global customers. Battery enclosures can be developed in steel, aluminum, and multi-material configurations,including lightweight composites, to meet the individual needs of each customer.

TAGSFord F-150 Lightning, Electrification, Battery Enclosures

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, 248.631.5396

ABOUT MAGNAMagna is more than one of the worlds largest suppliers in the automotive space. We are a mobility technology company with a global, entrepreneurial-minded team of 154,000 employees and an organizational structure designed to innovate like a startup. With 60+ years of expertise, and a systems approach to design, engineering and manufacturing that touches nearly every aspect of the vehicle, we are positioned to support advancing mobility in a transforming industry. Our global network includes 347 manufacturing operations and 90 product development, engineering and sales centres spanning 28 countries.

For further information about Magna (NYSE:MGA; TSX:MG), please visit www.magna.com or follow us on Twitter @MagnaInt.

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/0bceff75-19f3-4c77-bb2f-78180c3ca8b4