Magna Awarded Specialized eDrive System Business With North America-Based OEM
Portfolio Pulse from Benzinga Newsdesk
Magna (MGA) has been awarded a contract by a North America-based OEM to supply a specialized primary rear eDrive system for a high-end niche vehicle platform. This system, a variant of Magna's 800V eDS Duo, integrates two e-motors, two inverters, and two gearboxes, delivering 726 kW of power and 8,000 Nm of torque. The contract highlights Magna's expertise in electric powertrain system engineering and integration. The system will be manufactured in Magna's facility in Ramos, Mexico, with production starting in the next few years.
February 06, 2024 | 1:06 pm
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Magna has been awarded a contract to supply a specialized eDrive system, showcasing its expertise and expanding its electrification customer base.
The contract award to Magna for supplying a specialized eDrive system to a North America-based OEM is a significant development, highlighting Magna's capabilities and expertise in the electric vehicle sector. This could lead to increased investor confidence in Magna's growth prospects in the electrification market, potentially driving up its stock price in the short term. The announcement of starting production in the next few years indicates a solid pipeline of business, further supporting the positive outlook.
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