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Benzinga

Business

Shivani Kumaresan

Magna Commences Production Of Mild Hybrid Transmission For BMW Group

Magna (Organization) BMW BMW Group MGA Bayerische Motoren Werke AG Magna International Inc NYSE Germany Slovakia

Magna International Inc (NYSE:MGA) has started the production of its mild hybrid transmission for Bayerische Motoren Werke AG (OTC:BMWYY).
Magna's new 7-speed, mild hybrid dual-clutch transmission is the latest to be featured exclusively on BMW Group's compact class, accelerating its electric mobility transformation.
The contract will also include the production of mild hybrid transmissions for additional BMW models extending CO2 emissions reductions across multiple platforms.
Magna's 7HDT400 48V transmission enables optimal efficiency of an internal combustion engine and electric motor.
The mild-hybrid transmissions are built at Magna's facilities in Neuenstein, Germany, and Kechnec, Slovakia.
Price Action: MGA shares are trading lower by 0.88% at $59.74 on the last check Monday.

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