Magna adds new Jaguar E-PACE to contract manufacturing line-up

• Production to start later this year
• Second Jaguar model awarded to Magna
• Strengthens leadership in contract manufacturing

GRAZ, Austria, July 14, 2017 /PRNewswire/ - As SUVs continue strong sales in markets around the world – crossovers and SUVs grew to almost 29 percent of all sales globally in 2016 – automakers are launching new models to meet demand. This Includes Jaguar Land Rover, which announced yesterday that their Jaguar E-PACE compact SUV will be built by Magna at its contract vehicle manufacturing facility in Graz, Austria.

E-PACE production is expected to begin in the fourth quarter of 2017. It is the second model Magna will contract manufacture for Jaguar, following the announcement of the Jaguar I-PACE in December 2016. Production of the I-PACE is planned to start in the first quarter of 2018.

"We are proud to expand our partnership with Jaguar Land Rover and contribute to their new E-PACE compact SUV," said Günther Apfalter, President of Magna Europe and Magna Steyr. "This second collaboration in just a short time emphasizes the agility and flexibility we provide automakers with our contract manufacturing capability."

Including the Jaguar E-PACE, Magna will be manufacturing five different models by the first quarter of 2018. The others are Jaguar I-PACE, BMW 5 Series, BMW 530e plug-in hybrid, and Mercedes-Benz G-Class.

With more than 100 years' experience in vehicle manufacturing, Magna represents a leading partner for automakers. The company's engineering and contract manufacturing expertise provides additional production capacity for long-, mid- and short-term needs. As a contract manufacturer, Magna has produced more than 3 million vehicles across 23 different models.

TAGS
Jaguar E-Pace, Jaguar Land Rover, contract manufacturing, SUV, Magna Steyr

ABOUT MAGNA
We are a leading global automotive supplier with 321 manufacturing operations and 102 product development, engineering and sales centres in 29 countries. We have over 159,000 employees focused on delivering superior value to our customers through innovative products and processes, and world class manufacturing. We have complete vehicle engineering and contract manufacturing expertise, as well as product capabilities which include body, chassis, exterior, seating, powertrain, active driver assistance, vision, closure and roof systems. We also have electronic and software capabilities across many of these areas. Our common shares trade on the Toronto Stock Exchange (MG) and the New York Stock Exchange (MGA). For further information about Magna, visit our website at www.magna.com.

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.

SOURCE Magna International Inc.