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  • Magna has announced a new production milestone as it reached a total of 100,000 eDrive gearboxes for Chinese electric vehicle manufacturers
  • As a result of the successful joint venture with Jiangling Motors, Magna has won additional business supporting Chinese electric vehicle start-ups
  • The company continues to deliver comprehensive electrification solutions from mild hybrid to battery electric vehicles
  • Magna is a mobility technology company with 91 product development, engineering and sales centres in 27 countries
  • Magna (MG) is down 1.22 per cent and is trading at $117.94 per share

Magna has announced a new production milestone as it reached a total of 100,000 eDrive gearboxes for Chinese electric vehicle manufacturers.

The milestone was reached as part of Magna's joint venture with Jiangling Motors to support the growing electric vehicle market in China.

Magna’s plant in Jiangxi began production of eDrive gearboxes in 2018 that features high efficiency, best-in-class power density and excellent noise performance.

As a result of the successful joint venture with Jiangling Motors, Magna has won additional business to further support Chinese electric vehicle start-ups.

Tom Rucker, President of Magna Powertrain, commented,

“As powertrain electrification accelerates, especially in the Chinese market, we are positioned well to continue supporting automakers in their continued efforts to bring electrified vehicles to market quickly.”

He added,

“Magna’s competitive advantage is attributed to our flexible approach to this growing market by offering both complete systems as well as e-components to our customers.”

Magna continues to deliver comprehensive electrification solutions from mild hybrid to battery electric vehicles as the industry progresses toward a cleaner future.

Magna is a mobility technology company with more than 158,000 employees, 342 manufacturing operations, and 91 product development, engineering and sales centres in 27 countries.

Magna (MG) is down 1.22 per cent and is trading at $117.94 per share as of 3:46 pm ET. 

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