MAGNA E-CAR SYSTEMS OPENS NEW HYBRID & ELECTRIC VEHICLE SYSTEM DEVELOPMENT CENTER

Gov. Granholm visits to inaugurate new facility

AUBURN HILLS, MI, Sept. 20 /PRNewswire-FirstCall/ - Magna E-Car Systems, a recently formed joint venture between Magna International and the Stronach Trust, announced today the grand opening of its latest facility, a new hybrid- and electric-vehicle system development center and state-of-the-art battery/materials testing facility in Auburn Hills, Michigan.

"It is with great pride that we at Magna E-Car Systems, together with our many supporters and collaborators from government and private industry, are able to officially unveil this modern facility today," said Ted Robertson, President North America, Magna E-Car Systems. "Magna E-Car Systems has a full range of industry-leading capabilities and this facility represents an important step forward as we work to develop effective, innovative solutions for future mobility."

The 82,000-square-foot facility is located at 4121 North Atlantic Drive. Approximately 200 employees work on new electric-vehicle designs as well as cells and battery packs, hybrid- and electric-vehicle components, and complete hybrid- and electric-vehicle systems.

Including Auburn Hills, Magna E-Car Systems has four facilities throughout North America and three facilities in Europe working on several programs, including the Ford Focus Battery Electric Vehicle, a Volvo hybrid program and powertrain controllers for General Motors.

The company was honored to have Michigan Governor Jennifer Granholm as a guest speaker at the grand opening. As a champion for alternative energy initiatives and the lead advocate for reinventing Michigan's economy and creating jobs for the 21st century, Gov. Granholm delivered a passionate speech and proudly welcomed Magna E-Car Systems' new facility to the state of Michigan.

In August 2009 Magna was selected to receive funding from the American Reinvestment and Recovery Act of 2009 to support electric-drive vehicle components manufacturing. The grant was part of the $2.4 billion in Recovery Act funding announced by the Department of Energy.

About Magna E-Car Systems

Effective August 31, 2010, Magna International spun-off its E-Car Systems operating unit and established a new joint venture with the Stronach Trust to jointly continue to pursue opportunities in the vehicle electrification business. Under the terms of the Magna E-Car joint venture, Magna indirectly holds a 73-percent equity interest and the Stronach Trust indirectly holds a 27-percent equity interest in the new vehicle electrification joint venture.

The Magna E-Car Systems joint venture serves as the gateway to Magna's diversified range of hybrid- and electric-vehicle capabilities. Magna E-Car Systems will continue to deliver innovative solutions for future mobility while increasing capabilities, which already include the ability to develop, manufacture, and integrate a wide range of hybrid and electric products and total vehicle systems.

About Magna International

Magna International (www.magna.com) is the most diversified global automotive supplier. We design, develop and manufacture technologically advanced automotive systems, assemblies, modules and components, and engineer and assemble complete vehicles, primarily for sale to original equipment manufacturers (OEMs) of cars and light trucks. Our capabilities include the design, engineering, testing and manufacture of automotive interior systems; seating systems; closure systems; body and chassis systems; vision systems; electronic systems; exterior systems; powertrain systems; roof systems; hybrid and electric vehicles/systems as well as complete vehicle engineering and assembly.

We have over 90,000 employees in 242 manufacturing operations and 76 product development and engineering centers in 25 countries.

SOURCE Magna International of America Inc.