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Magna (TSX:MG) launching new automotive technology

Consumer, Market News
TSX:MG
21 December 2022 14:30 (EDT)

Source: Magna International Inc.

Magna International (MG) announced a new vehicle exterior solution called Morphing Surfaces to enhance performance efficiency and design.

Magna is a mobility technology company with centres in 28 countries. The company has vehicle engineering and manufacturing expertise, as well as product capabilities for automotive areas such as body, chassis, exterior, seating, powertrain, active driver assistance, electronics, mirrors and lighting, mechatronics and roof systems.

The new Morphing Surfaces technology was planned to evolve normal vehicle shutters, panels and grilles. It uses bendable surfaces that can be designed to blend into a vehicle’s body while opening or closing to optimize cooling, venting or aerodynamics when required.

The technology has the ability to reduce drag on all vehicles, especially electric ones. According to the company, a typical application could achieve a 10 per cent reduction in drag resulting in up to a 5.00 per cent range extension in electric vehicles without foregoing any sleek designs.

The technology can work in numerous applications, and Magna hopes to take it beyond aerodynamics. Morphing Surfaces will make its debut at the Consumer Electronics Show in Las Vegas in early January.

Magna International Inc. (MG) is up 1.04 per cent, trading at $77.01 per share as of 2:15 p.m. EST.


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