Magna Fully Charged for CES 2022

Rhea-AI Summary

Magna is set to showcase its innovative mobility solutions at CES 2022 in Las Vegas, emphasizing its advancements in electrification, advanced driver assist systems, and connectivity. The company, recognized with the CES 2022 Best of Innovation Award for its ICON Digital Radar, highlights technologies aimed at sustainable and efficient mobility. CEO Swamy Kotagiri underscores the importance of product optimization and systems integration. Attendees can visit Magna's booth #5528 in the West Hall to experience these innovations firsthand.

Positive

• Magna awarded CES 2022 Best of Innovation for ICON Digital Radar, enhancing its market position.
• Showcasing eco-friendly technologies at CES, including electric powertrain systems.
• Strategic focus on electrification and advanced mobility systems reflects industry leadership.

Negative

• None.

• Future-ready, sustainable mobility systems demonstrate the ‘Power of Magna’
• Magna’s ICON Digital Radar wins CES 2022 Best of Innovation Award
• Interactive exhibit located in the West Hall of the Las Vegas Convention Center, booth #5528

AURORA, Ontario, Nov. 15, 2021 (GLOBE NEWSWIRE) -- Magna is charging toward CES 2022 in Las Vegas where it will highlight its commitment to creating a better world of mobility. The company is demonstrating how its complete vehicle expertise and systems approach touches all aspects of the vehicle from electrification to advanced driver assist systems, connectivity and new mobility. The company will exhibit in the West Hall and will hold a press conference on Tuesday, Jan. 4, 2022 at 9 a.m. (PST) at the Mandalay Bay.

“With the next era of mobility in full swing, CES is a timely opportunity for us to showcase our latest innovations,” said Swamy Kotagiri, Magna’s Chief Executive Officer. “Being able to envision new possibilities across the entire vehicle through a lens of product optimization and systems integration allows us to think like an automaker.”

Using full-sized vehicle and technology displays, mixed reality and product animations, Magna’s booth will spotlight eco innovation – showcasing its latest technologies for clean and efficient mobility such as electric powertrain systems, active aerodynamics systems and battery enclosure solutions.

Magna is also celebrating its CES 2022 Best of Innovation Award win for ICON Digital Radar in the Vehicle Intelligence and Transportation category. ICON Digital Radar, which sets a new standard for driver-assistance technology, is a market first in the automotive industry and is expected to debut on the all-electric Fisker Ocean in 2022.

“More than 1500 companies are committed to showcasing how tech is transforming industries at CES 2022,” said Karen Chupka, EVP, CES, CTA. “As we return to Las Vegas, our automotive and transportation category is tracking for record growth, and we look forward to seeing how brands like Magna are redefining the future of mobility.”

Magna’s booth #5528 can be found in the West Hall of the Las Vegas Convention Center. Attendees can look out for ongoing Magna updates at magna.com/CES2022 or through its social media channels on Facebook, LinkedIn and Twitter.

TAGS
CES, technology, electrification, ADAS, new mobility, connectivity, sustainability

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

MEDIA CONTACT
Tracy Fuerst, Vice President, Corporate Communications & PR
tracy.fuerst@magna.com, 248.761.7004

ABOUT MAGNA
Magna is more than one of the world’s largest suppliers in the automotive space. We are a mobility technology company with a global, entrepreneurial-minded team of 158,000 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 MAGNA’S REGULATORY FILINGS. PLEASE REFER TO MAGNA’S MOST CURRENT MANAGEMENT’S 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 MAGNA’S 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 MAGNA’S WEBSITE AT WWW.MAGNA.COM.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/f23a2585-5eb7-4c69-af5b-b9f052b93d2b
https://www.globenewswire.com/NewsRoom/AttachmentNg/ae15f776-4c0d-4e3d-bead-157a4c85c812

FAQ

What innovations is Magna showcasing at CES 2022?

Magna is showcasing its advancements in electrification, driver assistance systems, and connectivity at CES 2022.

What award did Magna win at CES 2022?

Magna won the CES 2022 Best of Innovation Award for its ICON Digital Radar.

Where can I find Magna's booth at CES 2022?

Magna's booth #5528 is located in the West Hall of the Las Vegas Convention Center.

When is Magna's press conference at CES 2022?

Magna's press conference is scheduled for January 4, 2022, at 9 a.m. (PST).

What technologies are being highlighted by Magna at CES 2022?

Magna is highlighting technologies such as electric powertrain systems, active aerodynamics, and battery enclosure solutions.