{"id":754174,"date":"2023-05-03T07:41:37","date_gmt":"2023-05-03T11:41:37","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/magna-awarded-new-high-voltage-edrive-business-with-europe-based-global-oem\/"},"modified":"2023-05-03T07:41:37","modified_gmt":"2023-05-03T11:41:37","slug":"magna-awarded-new-high-voltage-edrive-business-with-europe-based-global-oem","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/magna-awarded-new-high-voltage-edrive-business-with-europe-based-global-oem\/","title":{"rendered":"Magna Awarded New High-Voltage eDrive Business With Europe-Based Global OEM"},"content":{"rendered":"<div class=\"mw_release\">\n<ul>\n<li style=\"text-align:left\">Coming to market on 2027 model SUVs and sedans<\/li>\n<li style=\"text-align:left\">Enables fast reconnect through new decoupling system<\/li>\n<li style=\"text-align:left\">Power range from 100 kW to 140 kW, optimized for 800V, delivers affordable costs<\/li>\n<\/ul>\n<p align=\"left\">AURORA, Ontario, May  03, 2023  (GLOBE NEWSWIRE) &#8212; Magna is taking electrification to the next level of efficiency and range to help meet evolving customer requirements. Today, the company has announced it has been awarded a high-volume contract with a Europe-based Global Premium OEM to supply its new eDrive system (eDS Mid). The eDrive is planned for 2027 model SUVs\/sedans, with production expected to begin in 2026.<\/p>\n<p align=\"left\">\u201cThe electrified powertrain technologies of the future are being developed today. We are embracing the challenge to innovate and bring to market scalable technology solutions that our customers require,\u201d said Diba Ilunga, President Magna Powertrain. \u201cThis new business marks an important milestone in our electrification strategy as we continue to consistently pursue new innovations and solutions to drive the rapidly growing EV sector forward.<\/p>\n<p align=\"left\">Magna\u2019s eDS Mid is a compact, high-speed e-motor that offers a scalable power range from 100 kW to 140 kW, optimized for 800V. As a high-voltage eDrive system for electric AWD applications, it enables fast reconnecting through a new decoupling system and delivers a highly-efficient inverter with Silicon Carbide (SiC) technology which contributes to best-in-class efficiency, drivability and safety.<\/p>\n<p align=\"left\">It also delivers up to 2,000 Nm of torque and weighs less than 72 kg, delivering less weight and volume in packaging compared to other available products in the market.<\/p>\n<p align=\"left\">Production of the eDrive system will be at the company\u2019s powertrain facilities in Kechnec, Slovakia, and Lannach, Austria, both of which are carbon neutral facilities.<\/p>\n<p align=\"left\">INVESTOR CONTACT<br \/>Louis Tonelli, Vice-President, Investor Relations <br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=HU5rzEsa7AZrxtIR92JfQlMwb5KJpNLZLy9QysRmdNi_4ueoNcELIE6p2QrhQXszyRoqj4MbNLoMUtdyEssZ_9a4PozWGlgZYCk_zeBPZ-0=\" rel=\"nofollow noopener\" target=\"_blank\">louis.tonelli@magna.com<\/a>, 905-726-7035<\/p>\n<p align=\"left\">MEDIA CONTACT<br \/>Tracy Fuerst, Vice President, Corporate Communications &amp; PR<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=NmBsxNu00l8VT4eV7QsN3_wdNYqQmrneR5dfwfxdNVdxHTTs7AjvptlpWqqNBz4rN0kU4LbP4iDKorkkhplrmMKnPZfrUVVv2RGKjmG-dTc=\" rel=\"nofollow noopener\" target=\"_blank\">tracy.fuerst@magna.com<\/a>, 248-761-7004<\/p>\n<p align=\"left\">ABOUT MAGNA<br \/>Magna is more than one of the world\u2019s largest suppliers in the automotive space. We are a mobility technology company with a global, entrepreneurial-minded team of over 168,000 employees and an organizational structure designed to innovate like a startup. With 65+ 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 343 manufacturing operations and 88 product development, engineering and sales centres spanning 29 countries.<\/p>\n<p align=\"left\">For further information about Magna (NYSE:MGA; TSX:MG), please visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=WowcC-NCcpb4bI2FWAelZA4TabfDmHvQysAby5Bu-rHCfAfnjP35nXZnRUtQ8CzTmuyRPdT6IfxhA9jxQhHAUA==\" rel=\"nofollow noopener\" target=\"_blank\">www.magna.com<\/a> or follow us on social.<\/p>\n<p align=\"left\">\n        <strong>THIS RELEASE MAY CONTAIN STATEMENTS WHICH CONSTITUTE \u201cFORWARD-LOOKING STATEMENTS\u201d UNDER APPLICABLE SECURITIES LEGISLATION AND ARE SUBJECT TO, AND EXPRESSLY QUALIFIED BY, THE CAUTIONARY DISCLAIMERS THAT ARE SET OUT IN MAGNA\u2019S REGULATORY FILINGS. PLEASE REFER TO MAGNA\u2019S MOST CURRENT MANAGEMENT\u2019S 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\u2019S 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\u2019S WEBSITE AT <\/strong><br \/>\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Znwy2BWPYWTPHYNnA1eJrobiMcSmOe5FFcPff9X1KhG8Wh60SXOKYbIxAtGCuwE4SeUpy-MIDmZ-52nmJuMw4g==\" rel=\"nofollow noopener\" target=\"_blank\"><br \/>\n          <strong>WWW.MAGNA.COM<\/strong><br \/>\n        <\/a><br \/>\n        <strong>.<\/strong>\n      <\/p>\n<p>A photo accompanying this announcement is available at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=hSvR_jyYTW9MitXoQyeWDTpmGMIENCvlJKY8lUT31JD4uC9fit0irM9Fi6MGnNkHxOAusa9s3YBo8ElsV7SBbStMT9-TQyphQoFaKQ2FtNB4aoC9vNUIGQ5v2WVq0ypME05ZvvYHRNlIuG7jMTT9cRIruGyrMblJz99DMj3-mWnqOspvCaQcosOLRZsq74izSrDcFk0i-G2ZQN4Cv1LBeDzbxYFbb0FTFWx68gDun2_ztC7pUTFAtS35myV4O3UYERmudRreEOmQW2K-nbocZg==\" rel=\"nofollow noopener\" target=\"_blank\">https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/8b9e46aa-2915-4e6a-b648-211db75f1a3b<\/a><\/p>\n<p>      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODgyOTA5NSM1NTY3MjQzIzIwMDg4MTU=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/ZTAwNDQ3MzItMDg0My00ZWQ4LTg5NmYtNGFmNjZkMDU3YzYyLTEwMjAzODg=\/tiny\/Magna-International-Inc-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Coming to market on 2027 model SUVs and sedans Enables fast reconnect through new decoupling system Power range from 100 kW to 140 kW, optimized for 800V, delivers affordable costs AURORA, Ontario, May 03, 2023 (GLOBE NEWSWIRE) &#8212; Magna is taking electrification to the next level of efficiency and range to help meet evolving customer requirements. Today, the company has announced it has been awarded a high-volume contract with a Europe-based Global Premium OEM to supply its new eDrive system (eDS Mid). The eDrive is planned for 2027 model SUVs\/sedans, with production expected to begin in 2026. \u201cThe electrified powertrain technologies of the future are being developed today. We are embracing the challenge to innovate and bring to market scalable &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/magna-awarded-new-high-voltage-edrive-business-with-europe-based-global-oem\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Magna Awarded New High-Voltage eDrive Business With Europe-Based Global OEM&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-754174","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Magna Awarded New High-Voltage eDrive Business With Europe-Based Global OEM - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/magna-awarded-new-high-voltage-edrive-business-with-europe-based-global-oem\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Magna Awarded New High-Voltage eDrive Business With Europe-Based Global OEM - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Coming to market on 2027 model SUVs and sedans Enables fast reconnect through new decoupling system Power range from 100 kW to 140 kW, optimized for 800V, delivers affordable costs AURORA, Ontario, May 03, 2023 (GLOBE NEWSWIRE) &#8212; Magna is taking electrification to the next level of efficiency and range to help meet evolving customer requirements. Today, the company has announced it has been awarded a high-volume contract with a Europe-based Global Premium OEM to supply its new eDrive system (eDS Mid). The eDrive is planned for 2027 model SUVs\/sedans, with production expected to begin in 2026. \u201cThe electrified powertrain technologies of the future are being developed today. 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Today, the company has announced it has been awarded a high-volume contract with a Europe-based Global Premium OEM to supply its new eDrive system (eDS Mid). The eDrive is planned for 2027 model SUVs\/sedans, with production expected to begin in 2026. \u201cThe electrified powertrain technologies of the future are being developed today. 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