Press Release

2009-06-28

form a Joint Venture for electric and hybrid vehicles

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Sailauf / Nuremberg, Germany, June 22nd, 2009 – Magna Electronics, an operating unit of Magna International Inc. that delivers innovative electronic solutions to the automotive market, and SEMIKRON, technology leader for power semiconductor components and systems, announced today the formation of a 50/50 joint venture to develop and produce power electronics for future electric and hybrid vehicle applications.

 

“This joint venture with SEMIKRON, a global player across multiple industries, provides us with an experienced and strong partner in the field of power electronics,” said Matthias Arleth, Vice President Magna Electronics Europe.  “In combination with Magna Electronics’ experience as a worldwide automotive supplier, we are well positioned to anticipate the challenges of the market and exceed customer requirements for electric and hybrid vehicle components and systems.”

 

“With Magna Electronics we have a valuable partner which is a well-known and well-respected supplier in the automotive industry. Magna’s experience and capabilities will enable us to make best use of our know-how and our innovations in this sector of the industry,” said Peter Frey, General Manager of SEMIKRON International. ”Power electronics is a key technology to assure future mobility with electric and hybrid vehicles, the answer to increasing emissions and limited natural resources.”

 

About SEMIKRON: SEMIKRON, a privately owned company, was founded in 1951 and employs 3,000 people, worldwide. The headquarters is located in Nuremberg, Germany. A global network of 35 companies guarantees fast and competent worldwide customer support and service. The products range from chips, discretes and power modules to customer specific solutions and integrated power electronic systems. “SEMIKRON inside” has become a trademark for industrial drives, power supplies, renewable energy, battery vehicles and the rail industry. The innovative technologies from SEMIKRON have set the standard in many areas of power electronics.

www.SEMIKRON.com

 

About Magna Electronics: Magna Electronics, a wholly-owned operating unit of Magna International, provides innovative electronic systems through manufacturing facilities and engineering divisions located all over the world. Magna Electronics use the long experience and deep technology know-how concerning complete vehicles to offer a comprehensive product range and innovative system solutions to the customers. With its individual core products the group is focusing on the segments driver assistance and safety, body systems and HMI, intelligent power systems for smart actuators and electric vehicle, engine electronics and liquid level sensors as well as industrial products.

www.magnaelectronics.eu

 

About Magna International: Magna International (www.magna.com) is the most diversified automotive supplier in the world. We design, develop and manufacture automotive systems, assemblies, modules and components, and engineer and assemble complete vehicles, primarily for sale to original equipment manufacturers of cars and light trucks in North America, Europe, Asia, South America and Africa. Our capabilities include the design, engineering, testing and manufacture of automotive interior systems; seating systems; closure systems; metal body and structural systems; vision systems; electronic systems; exterior systems; powertrain systems; roof systems; as well as complete vehicle engineering and assembly. 

 

Magna has approximately 70,000 employees in 240 manufacturing operations and 86 product development and engineering centers in 25 countries.

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