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    Magna Deepens China Footprint to Meet Growing EV Demand

    11/18/25 11:00:00 PM ET
    $MGA
    Auto Parts:O.E.M.
    Consumer Discretionary
    Get the next $MGA alert in real time by email
    • New facility in Wuhu to produce electric drives for Chery and support future growth
    • Magna advances electrification capabilities and market reach in China
    • Expansion expected to create approximately 200 new jobs

    AURORA, Ontario, Nov. 18, 2025 (GLOBE NEWSWIRE) -- Magna is strengthening its presence in China with a new facility in the Jiujiang Economic Development Zone, Wuhu to support the growing demand of electric drive systems—starting with Chery and positioned to serve additional automakers in the future.

    As China's automotive industry accelerates toward electrification, localized production of electric technologies is more critical than ever. Magna's new operation in Wuhu positions the company to meet this need and reinforces its role as a global leader in powertrain innovation.

    "This expansion reflects Magna's commitment to supporting our customers' electrification strategies and advancing sustainable mobility," said Diba Ilunga, President Magna Powertrain. "Wuhu offers a strong industrial foundation and an environment conducive to innovation. We are excited to bring our world-class electric drive technologies closer to Chery and other partners in China."

    The new facility will manufacture Magna's eDrive systems, delivering smooth, high-performance electric propulsion with a scalable architecture for a wide range of battery electric vehicles.

    These innovations enable automakers to achieve strict emissions standards and deliver efficient, high-performance electrified vehicles across diverse segments while enhancing driving dynamics.

    Magna's newly leased facility spans over 160,000 square feet and is expected to generate approximately 200 new jobs upon reaching full production.

    Over the past 20 years, Magna has accelerated its growth in China. In 2024, the company recorded $5.6 billion in sales in the market, with approximately 60% of this revenue coming from Chinese OEMs.

    Magna is one of the world's largest automotive suppliers and a trusted partner to automakers in the industry's most critical markets. To learn more about Magna's powertrain technologies, visit www.magna.com/products/powertrain.

    INVESTOR CONTACT

    Louis Tonelli, Vice President, Investor Relations

    [email protected] │905.726.7035

    MEDIA CONTACT

    Tracy Fuerst, Vice President, Corporate Communications & PR

    [email protected] │248.761.7004

    ABOUT MAGNA

    Magna is one of the world's largest automotive suppliers and a trusted partner to automakers in the industry's most critical markets—North America, Europe, and China. With a global team and footprint spanning 28 countries, we bring unmatched scale, trusted reliability, and proven execution. Backed by nearly seven decades of experience, we combine deep manufacturing expertise with innovative vehicle systems to deliver performance, safety, and quality.​

    ​

    For further information about Magna (NYSE:MGA, TSX:MG), please visit www.magna.com or follow us on social.

    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.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a3acb7b0-29b3-488e-87ce-c26c9489c82f



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