Benzinga | Dec 13, 2021 10:01AM EST

Magna's All-Electric Powertrain To Debut In 2022

* Magna International Inc's (NYSE:MGA) all-electric connected powertrain, the EtellingentReach, is set to debut on a new entrant vehicle in 2022.

* The system is comprised of two electric motors, inverters and gearboxes, and leverages advanced software to maximize vehicle range and driving dynamics.

* eDrive technology advancements in the EtelligentReach achieve a range increase of up to 145 km/90 miles or 30% compared to certain production BEV vehicles in the segment.

* The company will be showcasing the innovations at its booth in the West Hall at CES 2022.

* Price Action: MGA shares are trading lower by 1.65% at $78.52 on the last check Monday.