Magna Secures 800V eDrive Program Award With Chery
Rhea-AI Summary
Magna (NYSE:MGA) announced it has secured an 800V, 250kW 2-speed eDrive program award with Chinese automaker Chery, a key step in Magna’s electrification strategy in China. The system, based on Magna’s modular electrification portfolio, is designed for high power density, energy efficiency and scalable integration across battery electric vehicle platforms.
The new eDrive program will be produced at Magna’s new Wuhu facility, supporting localized manufacturing for Chinese OEMs. Magna also reported that its DHD Duo dedicated hybrid drive with Chery on the Jetour G700, first announced in 2024, has now reached series production in China.
Positive
- 800V 250kW eDrive award with Chery expands China electrification footprint
- Localized production in new Wuhu facility supports Chinese OEM programs
- DHD Duo hybrid drive with Chery has reached series production on Jetour G700
Negative
- None.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jun 22 | Earnings webcast notice | Neutral | -2.3% | Scheduled second-quarter results webcast for July 31, 2026 |
| May 19 | Program award | Positive | -0.3% | European OEM awarded Magna driver and occupant monitoring system program |
| May 04 | Annual meeting results | Neutral | +0.9% | Shareholders elected directors and approved auditor and compensation resolutions |
| May 01 | First-quarter earnings | Positive | -4.5% | Sales, adjusted EBIT, adjusted EPS, and cash flow improved year over year |
| Apr 13 | Earnings webcast notice | Neutral | -0.8% | Scheduled first-quarter results webcast for May 1, 2026 |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent positive program and earnings announcements were followed by negative 24-hour reactions, indicating repeated divergence between favorable news and price response.
Key Terms
oems technical
power density technical
high voltage propulsion systems technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
- New 250kW 800V 2-speed eDrive program award highlights Magna’s advanced electrification capabilities
- Program to be produced at Magna’s new Wuhu facility, supporting localized execution in China
- Momentum continues with dedicated hybrid drive system now in series production with Chery on the Jetour G700
AURORA, Ontario, July 28, 2026 (GLOBE NEWSWIRE) -- Magna today announced it has secured an 800-volt electric drive (eDrive) program award with Chery, marking a key milestone in the company’s advanced electrification strategy in China. The program will be produced at Magna’s new Wuhu facility, reinforcing the company’s ability to bring next generation electric drive technologies into localized production for leading Chinese OEMs.
The awarded 250kW 800V 2-speed eDrive system is engineered to deliver high performance, efficiency and scalability through a compact, integrated design. Built on Magna’s modular electrification portfolio, the system supports a wide range of battery electric vehicle applications while enabling flexible integration across global platforms. Its advanced architecture is designed to optimize power density, improve energy efficiency and enhance overall driving performance.
“Magna’s strength lies in our ability to support customers across propulsion technologies and regions,” said Diba Ilunga, President Magna Powertrain. “This new 800V eDrive award with Chery reflects how we support OEMs as they move forward, whether through electric, hybrid or mixed technology strategies, while delivering the performance, efficiency and scalability today’s markets demand.”
The new eDrive program builds on Magna’s growing momentum in China, including the start of production of its DHD Duo dedicated hybrid drive system with Chery on the Jetour G700. First announced in 2024, the DHD Duo program has now reached series production, highlighting Magna’s ability to industrialize complex high voltage propulsion systems quickly and at scale.
Together, these milestones demonstrate Magna’s ability to deliver across the full spectrum of electrification, combining advanced product development, localized manufacturing and proven execution to support the continued growth of its customers in China and globally.
To learn more about Magna’s powertrain systems and electrification capabilities, visit www.magna.com/products/powertrain.
INVESTOR CONTACT
Louis Tonelli, Vice President, Investor Relations
louis.tonelli@magna.com │ 905.726.7035
MEDIA CONTACT
Tracy Fuerst, Vice President, Corporate Communications & PR
tracy.fuerst@magna.com │ 248.761.7004
ABOUT MAGNA
Magna is one of the world’s largest automotive suppliers and a trusted partner to automakers in the industry’s most critical markets—North America, Europe, and China. With a global team and footprint spanning 28 countries, we bring unmatched scale, trusted reliability, and proven execution. Backed by nearly seven decades of experience, we combine deep manufacturing expertise with innovative vehicle systems to deliver performance, safety, and quality.
For further information about Magna (NYSE:MGA; TSX:MG), please visit www.magna.com or follow us on social.
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