News Release - Magna Celebrates Opening of New Electronics Facility

 

• State-of-the-art manufacturing facility in Grand Blanc Township, Michigan
• Solidifies leadership in vision-based driver assistance systems
• Division has made more than 46 million ADAS components since 2005

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Magna officially opens its new electronics facility in Grand Blanc Township, Michigan.

TROY, Mich., Aug. 14, 2019  -- Magna celebrated the opening of a new electronics manufacturing facility today in Grand Blanc Township, Michigan. The facility consolidates three nearby locations into a single state-of-the-art facility that combines 21^st-century manufacturing with people-first workplace design and functionality.

By opening the 230,000-square-foot facility with an investment of nearly $50 million, Magna solidifies its presence in Grand Blanc Township and is positioned to continue its leadership in vision-based driver assistance systems. The new facility allows Magna to accelerate large-scale deployment of future technologies such as advanced driver assistance systems (ADAS), advanced robotics and micro-LED lighting.

Serving many of the world’s automakers, Magna Electronics Holly ships ADAS components to more than 330 different locations in North and South America, Europe and Asia. The division started manufacturing automotive-grade cameras in 2005 and has steadily increased its annual output as driver assistance systems have grown through regulatory measures and consumer demand. At present Magna Electronics Holly has made more than 46 million ADAS components, a number that will continue to grow well into the future.

Magna now combines cameras with other sensors such as RADAR and LiDAR to develop the advanced driver assistance systems that make up the building blocks of autonomy. Thanks to Magna’s systems, drivers can activate adaptive cruise control to maintain a safe following distance and speed, use lane-keeping assist to center the vehicle, and check blind spots to monitor adjacent travel lanes.

“We provide features to improve the daily commute and add a layer of safety,” said Magna CTO Swamy Kotagiri. “With the excitement surrounding autonomous vehicles and their potential to eliminate car crashes, it can be easy to forget the path to full autonomy lies in the safety and driver assistance systems we have today.”

In addition to manufacturing ADAS components, the new facility is home Magna’s advanced robotics R&D testing lab.  With continued advancements in AI the company is bringing more smart factory concepts into its operations, and this new lab allows the testing and implementation of robotics that are adaptable, flexible and work in collaboration with people.

The plant is also the home of Magna Rohinni Automotive, a joint venture formed in 2018 to bring ultra-thin, flexible micro-LED lighting solutions to market. Magna and Rohinni are pleased to announce that this joint venture, after less than one year, has a dedicated production line installed in the new facility and stands ready to support production for customers.

INVESTOR CONTACT
Louis Tonelli, Vice-President, Investor Relations
louis.tonelli@magna.com, (+1) 905.726.7035

MEDIA CONTACT
Tracy Fuerst, Global Director of Corporate Communications & PR
tracy.fuerst@magna.com, (+1) 248.631.5396

ABOUT MAGNA
We are a mobility technology company. We have more than 168,000 entrepreneurial-minded employees and 347 manufacturing operations and 92 product development, engineering and sales centres in 28 countries. We have complete vehicle engineering and contract manufacturing expertise, as well as product capabilities which include body, chassis, exterior, seating, powertrain, active driver assistance, electronics, mirrors & lighting, mechatronics and roof systems. Magna also has 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 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.