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    MG   CA5592224011

MAGNA INTERNATIONAL INC.

(MG)
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Magna's CLEARVIEW Camera Monitoring System to Debut In 2022

10/27/2020 | 07:15am EST
  • Complete camera monitoring system with advanced features
  • Combines expertise in exterior/interior mirrors, cameras, electronics and software
  • Improves driver visibility and safety with customizable field of views

AURORA, Ontario, Oct. 27, 2020 (GLOBE NEWSWIRE) -- After winning new business across multiple vehicle models for a global automaker, it’s official: Magna’s CLEARVIEW™ technology will enter the market in 2022. Using a unique combination of camera and mirror technology to provide drivers with an enhanced field of view, CLEARVIEW is made possible through Magna’s comprehensive expertise in intelligent vision systems using mirrors, cameras, electronics and software.

“The CLEARVIEW system combines Magna’s leading camera and electronics expertise with our unmatched mirror capabilities to create a complete vision system that enhances driver safety by giving the driver more information about their side and rear surroundings,” said John O’Hara, President of Magna Mechatronics, Mirrors and Lighting.

The CLEARVIEW interior mirror features a frameless design with the ability to electronically switch between a traditional rear-view mirror and a video display that has a customizable field of view and can display up to three camera views at the same time. This is particularly helpful when passengers, cargo and/or a trailer restrict the driver’s view when using the traditional rear-view mirror. The system is also available with a capacitive-touch interface that enables an automaker or vehicle logo to be included.

The CLEARVIEW exterior mirror integrates a camera with a U.S. regulatory-compliant side-view mirror to display a live feed inside the vehicle. Cameras are mounted on the mirrors beyond the widest point of the vehicle to achieve a maximum field of view, enhance the driver’s awareness and improve safety. The exterior mirror can also include safety and convenience features such as surround-view cameras, blind zone indicators, auto dimming glass, memory, power fold and forward/rear lighting.

The new-business win underscores Magna’s ability to bring innovative, future-focused products to market and help differentiate customers’ products. With its technology, expertise, size and scale, no other supplier is as ready as Magna is to lead in the new-mobility landscape.

TAGS
Rearview cameras, outside mirror, inside mirror, blind spot reduction

INVESTOR CONTACT
Louis Tonelli, Vice President, Investor Relations
louis.tonelli@magna.com, 905.726.7035

MEDIA CONTACT
Tracy Fuerst, Vice President, Corporate Communications and PR
tracy.fuerst@magna.com, 248.761.7004

ABOUT MAGNA
We are a mobility technology company. We have over 152,000 entrepreneurial-minded employees, 346 manufacturing operations and 93 product development, engineering and sales centres in 27 countries. We have complete vehicle engineering and contract manufacturing expertise, as well as product capabilities that include body, chassis, exteriors, seating, powertrain, active driver assistance, electronics, mechatronics, mirrors, lighting and roof systems. Our common shares trade on the Toronto Stock Exchange (MG) and the New York Stock Exchange (MGA). For further information about Magna, visit 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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e04c2624-6a81-487a-a930-6582a8e2bda6

Primary Logo

CLEARVIEW vision system from Magna

The CLEARVIEW interior mirror displays a customizable live video feed from multiple rear-facing cameras mounted on the exterior of the vehicle.

ę GlobeNewswire 2020
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Financials (USD)
Sales 2021 35 973 M - -
Net income 2021 1 368 M - -
Net Debt 2021 2 079 M - -
P/E ratio 2021 16,9x
Yield 2021 2,23%
Capitalization 23 541 M 23 634 M -
EV / Sales 2021 0,71x
EV / Sales 2022 0,64x
Nbr of Employees 154 000
Free-Float 99,4%
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Number of Analysts 19
Last Close Price 76,95 $
Average target price 94,60 $
Spread / Average Target 22,9%
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Managers and Directors
Seetarama Kotagiri President & Chief Executive Officer
Vincent J. Galifi Chief Financial Officer & Executive Vice President
Bill L. Young Chairman
Paul Bellack Vice President-Information Technology
Anton Mayer Executive Vice President-Research & Development
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