Magna Collaborates with New Chinese Automaker NIO on Vehicle Launch
- Magna is uniquely qualified to support startups under China's environmental plan
- Supplying ES8 with aluminum body, chassis and the gearboxes for the electric drive system
- Combines expertise in powertrains, body and structure, and lightweight materials
SHANGHAI, China, Dec. 18, 2017 /CNW/ - As China's environmental plan takes shape and start-up companies develop and launch their new-energy vehicles, the support of strong and capable suppliers will be essential. The latest example occurred today with new Chinese startup NIO, and the launch of their NIO ES8 electric SUV, a vehicle that comes to market with key systems supplied by Magna.
The ES8 seats seven, features a lightweight all-aluminum body and chassis, and comes standard with electric-drive (e-drive) systems in the front and rear of the vehicle. Magna's content includes the aluminum front sub-frame and rear cradle, the gearboxes for both e-drive systems and the latching system for the side doors and hood.
Magna possesses unique capabilities and experience to support the growth of new-energy vehicles in China and globally. A technology leader across several automotive product areas, Magna is able to combine expertise in hybrid and electric powertrains, a vehicle's overall body and structure, and lightweighting solutions using a range of both metallic and plastic/composite materials.
"Supporting a new automaker and launch such as the NIO ES8 electric SUV is ideally suited for Magna," said Magna's Chief Technology Officer Swamy Kotagiri. "We are able to apply our full-vehicle expertise to help make the vehicle lightweight while at the same time helping deliver power to the wheels in the most efficient way. Working with our customers to help bring their ideas to life is really what Magna is all about."
NIO is a Chinese start-up founded in 2014 that designs and develops smart, high-performance electric vehicles under the NIO brand.
TAGS
NIO NIO ES8, electric vehicles, lightweight body and chassis, hood latches
ABOUT MAGNA
We are a leading global automotive supplier with 328 manufacturing operations and 99 product development, engineering and sales centres in 29 countries. We have over 163,000 employees focused on delivering superior value to our customers through innovative products and processes, and world class manufacturing. We have complete vehicle engineering and contract manufacturing expertise, as well as product capabilities which include body, chassis, exterior, seating, powertrain, active driver assistance, vision, closure and roof systems. We also have electronic and software capabilities across many of these areas. Our common shares trade on the Toronto Stock Exchange (MG) and the New York Stock Exchange (MGA). For further information about Magna, visit our website at www.magna.com.
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.
SOURCE Magna International Inc.
INVESTOR CONTACT, Louis Tonelli, Vice-President, Investor Relations, [email protected], 905.726.7035; MEDIA CONTACT, Tracy Fuerst, Global Director of Corporate Communications & PR, [email protected], 248.631.5396
Share this article