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Magna’s (TSX:MG) new product the EtelligentReach to hit the market in 2022

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TSX:MG
13 December 2021 15:00 (EDT)

Source: Magna International Inc.

Magna (MG) has announced the pending release of an all-electric connected powertrain system, the EtelligentReach in 2022.

The EtelligentReach is a system with two electric motors, inverters, gearboxes, and leverages advanced software to maximize vehicle range and driving dynamics.

The technology could achieve a range increase of up to 145 km/90 miles or 30 per cent compared to battery-powered vehicles.

Magna’s technology optimizes the interaction of individual components and the entire vehicle with a software package that manages multiple vehicle functions.

EtelligentReach utilizes a functional, modular control unit that integrates various powertrain and chassis functions.

President of Magna Powertrain, Tom Rucker, said,

“The EtelligentReach reduces range anxiety and improves driving dynamics, providing automakers with a complete all-electric powertrain system with AWD that is exciting and efficient.”

Other products in Magna’s portfolio include the EtelligentEco, a connected plug-in hybrid electric vehicle system. And EtelligentForce, a system to electrify trucks. These products will be introduced at CES 2022.

Magna is a mobility technology company and one of the world’s largest suppliers in the automotive industry.

Magna International Inc. (MG) is down 2.14 per cent at C$99.42 per share at 3:00 pm EST.

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