News Release - Magna Opens Doors in Growing Global Liftgate Market

Magna Thermoplastic Liftgate
  • Lightweight, recyclable thermoplastic liftgates enable weight savings and design freedom
  • More than 3 million have rolled off Magna production lines around the world
  • Growth of sport utility and crossover market presents opportunity for lightweight liftgate adoption

AURORA, Ontario, Aug. 30, 2018 -- The continuing growth of sport utility and crossover vehicles – which made up roughly one-third of global sales in 2017 – combined with changing global emissions standards has many automakers adopting lightweight, thermoplastic liftgate modules. Magna offers automakers unique expertise in delivering these recyclable modules, which provide up to 25 percent weight savings compared to steel versions and allow for broader design flexibility.

"Magna's thermoplastic liftgate modules answer the growing demand for products that help automakers cut vehicle weight, improve fuel efficiency, reduce CO2 emissions, extend electric vehicle battery range, and improve aerodynamics," said Magna Exteriors President Grahame Burrow. "They also enable greater design freedom, which means our customers are better able to shape their brand image and perform more frequent and cost-effective mid-cycle refreshes."

Magna began producing thermoplastic liftgates in 1999 for a premium European automaker, followed by several more European launches. The first North American thermoplastic liftgate was on the 2014 Nissan Rogue, and two more launched this year on the 2019 Jeep Cherokee and 2019 Acura RDX. Magna will launch two more later this year in China. In total, more than 3 million thermoplastic liftgate modules have rolled off Magna production lines around the world. In addition to mass savings and design freedom, key benefits of Magna's full-system assembly and delivery approach include reduced complexity of the total liftgate module, lower tooling investment and increased throughput at the assembly plant.

IHS Markit estimates the global SUV/compact SUV market will grow from 34 million units in 2018 to almost 43 million units by 2025. Magna sees a considerable growth opportunity to provide thermoplastic liftgates for this growing segment.

TAGS
Automotive exterior systems, liftgates, composites, thermoplastics, modules, doors

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

MEDIA CONTACT
Tracy Fuerst, Global Director of Corporate Communications & PR
tracy.fuerst@magna.com, 248.631.5396

ABOUT MAGNA
We have more than 173,000 entrepreneurial-minded employees dedicated to delivering mobility solutions. We are a mobility technology company and one of the world's largest automotive suppliers with 339 manufacturing operations and 89 product development, engineering and sales centres in 28 countries. Our competitive capabilities include body exteriors and structures, power and vision technologies, seating systems and complete vehicle solutions. Our common shares trade on the Toronto Stock Exchange (MG) and the New York Stock Exchange (MGA). For further information about Magna, visit www.magna.com.

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