Magna International : News Release - Magna Celebrates Two Milestones in China

New dual-clutch transmission production and 10th anniversary of the joint-venture with Jiangling Motors

SHANGHAI, China, October 27, 2016 -Magna International Inc., celebrated start of mass production of the new 3rd generation dual-clutch transmission 7DCT300 at its joint venture plant with Jiangling Motors Co., Group in Nanchang.

The 7DCT300 is designed for vehicles in the mid-range and compact segment, with up to 300 Nm engine torque. It is suitable for all-wheel drive applications, as well as fuel-saving functions such as engine start-/stop and advanced sailing, with or without engine stop.

'The dual-clutch transmission technology sets a unique standard in terms of efficiency, flexibility and shift comfort,' said Young-Ho Lee, CEO of GETRAG Asia Pacific, Magna Powertrain. 'With an integrated e-machine, it can also easily be adapted to a hybrid version with scalable performance from mild to plug-in hybrid drive'.

The joint venture with Jiangling Motors called GETRAG (Jiangxi) Transmission Co., Ltd ('GJT') also celebrated its 10th anniversary on the same day. A ceremony was held and attended by top executives of Magna Powertrain, local government officials, customer representatives and plant employees. Massimiliano Trantini, General Manager of GJT, warmly welcomed the guests, 'We are proud of the tremendous achievement our joint venture has gained in the past decade. More importantly, we take this celebration as the starting-point of a great future as we have been chosen to manufacture and supply the leading edge of transmission technology for China market as well as the global market.'

In the past 10 years, GJT has extended its product portfolio from manual to the latest dual-clutch transmissions and has become a strategic supplier of both commercial and passenger vehicle manufacturers in various markets. Dual clutch transmission products have been produced in Nanchang since 2013.

'We are grateful to our customers and the community for their support. Ten years of consistently fulfilling our customer's expectations in quality, delivery and performance is something we are very proud of. And with the launch of new dual-clutch transmissions, we will continue to bring leading powertrain technologies and products to the growing Chinese market,' Dr. Stephan Weng, Executive Vice President of GETRAG Global, Magna Powertrain, addressed at the ceremony.

About Magna
We are a leading global automotive supplier with 309 manufacturing operations and 99 product development, engineering and sales centers in 29 countries. We have over 152,000 employees focused on delivering superior value to our customers through innovative products and processes, and World Class Manufacturing. We have complete vehicle engineering and contract manufacturing expertise, as well as product capabilities which include body, chassis, exterior, seating, powertrain, electronic, active driver assistance, vision, closure and roof systems. Our common shares trade on the Toronto Stock Exchange (MG) and the New York Stock Exchange (MGA). For further information about Magna, visit our website at www.magna.com.

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