GlobeNewswire Inc | Jan 11, 2022 08:00AM EST

January 11, 2022

-- Majority of Optimus Ride engineering team joins Magna -- Bolsters Magnas expertise in advanced sensing technologies -- Adds engineering center in Boston area

AURORA, Ontario, Jan. 11, 2022 (GLOBE NEWSWIRE) -- Magna has added more than 120 employees of Optimus Ride, a provider of autonomous vehicle and mobility solutions located in Boston, to enhance Magnas capabilities in the field of advanced driver assistance systems (ADAS).

Growing our engineering bench strength in sensing hardware and software helps accelerate our path forward in a rapidly growing ADAS market, said John OHara, President of Magna Electronics.

The contributions expected from the Optimus Ride employees will be valuable as Magna builds on its strengths and position as a global ADAS provider with comprehensive capabilities.

The team remains in Bostons Seaport district, establishing a Boston-based engineering center and presence for Magna in a community rich in engineering talent, leading academic institutions and robotics.

As advancements in autonomy continue, we saw an opportunity to bring in additional expertise to support current programs as well as future customer needs. We are happy to welcome the Optimus Ride employees to the Magna family, added OHara.

TAGSADAS, technology, autonomous, software

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 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.

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