Magna’s EtelligentForce Simplifies Electrification of Truck Segment

Rhea-AI Summary

Magna has announced the launch of its EtelligentForce battery electric 4WD powertrain system, designed for pickup trucks and light commercial vehicles. Targeted for production in 2025, this system preserves the full capabilities of conventional trucks, offering up to 14,500 pounds towing capacity and a peak power of 430 kW. Additionally, Magna is establishing a new EV center in Michigan to prepare for the North American EV market. The introduction of EtelligentForce reflects Magna's commitment to sustainable mobility while maintaining performance.

Positive

• Introduction of EtelligentForce powertrain system enhances Magna's electrification capabilities.
• EtelligentForce maintains towing capacity of 14,500 pounds, appealing to traditional truck markets.
• New EV center in Michigan to support the development and production of electrification solutions.

Negative

• None.

• EtelligentForce powertrain system preserves strength and functionality of pickups and light commercial vehicles
• Advanced BEV solution targeted for production beginning in 2025
• Magna to open new EV center in Michigan

AURORA, Ontario, Jan. 05, 2022 (GLOBE NEWSWIRE) -- Magna has kicked off the new year reinforcing its capabilities to produce electrification solutions that deliver the vehicle of the future and greater sustainable mobility, for all. The mobility technology company is highlighting EtelligentForce, a battery electric 4WD powertrain system for pickup trucks and light commercial vehicles paired with Magna eBeam technology. Designed to maintain full vehicle capabilities without compromising payload or towing capacities of pickup trucks and light commercial vehicles, EtelligentForce is targeted for production from 2025.

“EtelligentForce comes at a pivotal time - particularly in the North American auto industry where pickup trucks are at their height of popularity and one of the last segments to become fully electric,” said President of Magna Powertrain, Tom Rucker. “The beauty of this powerful BEV system is that it delivers the environmental benefits of an electric powertrain while maintaining the capability and utility of conventional ¾-ton and 1-ton trucks. We are excited to be able to share these future-ready solutions with our stakeholders this year.”

EtelligentForce features Magna’s eDrive technology at the front and its eBeam electrified beam axle at the rear. It is designed for high-payload vehicles, capable of towing up to 14,500 pounds – easily on par with its ICE counterparts in this truck segment. It can provide a total peak power of up to 430 kW - 250kW from the rear eBeam and 180kW from the front eDrive. As a bonus, this solution omits the need for architectural changes to the vehicle and is totally customizable for automakers to prioritize key performance attributes.   Magna’s eBeam replaces traditional beam axles, accommodating existing suspension and brake systems, and avoiding the need for expensive redesign of existing truck platforms. These benefits help automakers simplify the transition toward electrification of these vehicle segments.

With fewer moving parts than a traditional ICE powertrain, the EtelligentForce requires less maintenance – a direct benefit to truck owners over the life of the vehicle. “Our powertrain electrification capabilities and our deep expertise in the engineering and manufacturing of light truck products is what sets Magna apart when it comes to understanding the truck market. EtelligentForce will enable businesses and consumers to put their trucks to work, whether on the construction site or enroute to their favorite vacation destination – all while helping to reduce emissions,” added Rucker.

As the momentum toward vehicle electrification accelerates, Magna is setting up a new EV center at its U.S. headquarters in Troy, Michigan. The specialized team will be dedicated to preparing the EtelligentForce solution to launch in the North American EV market from 2025, in addition to other EV products.

TAGS
Technology, electrification, powertrain, new mobility, sustainability, pickup trucks

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 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 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:

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FAQ

What is the EtelligentForce system announced by Magna (MGA)?

The EtelligentForce system is a battery electric 4WD powertrain designed for pickup trucks and light commercial vehicles, maintaining their full capabilities while being fully electrified.

When is the production of the EtelligentForce powertrain expected to start?

Production of the EtelligentForce powertrain is targeted to begin in 2025.

What are the towing capabilities of the new EtelligentForce system?

The EtelligentForce system is capable of towing up to 14,500 pounds.

Where is Magna opening a new EV center?

Magna is opening a new EV center in Michigan.