Magna Powertrain

In 1988, Magna formed Tesma International to manufacture engine and transmission parts. Tesma was spun off into a public company in 1995 while retaining affiliation with Magna.^[1]

In 2001, founded Magna Steyr (through an acquisition), to engineer, develop and assemble automobiles for other companies on a contractual basis. In April 2004, Magna transferred the powertrain operations of Magna Steyr to a new subsidiary called Magna Drivetrain, to focus on engineering and assembly of chassis, driveline subsystems, and modules. Magna stated the new company would better address the growing importance of all-wheel drive powertrains.^[2] In September 2004,^[3] Magna acquired the global operations of New Venture Gear from DaimlerChrysler for an estimated price of $435 million, and integrated it with Magna Drivetrain. The acquisition helped establish the newly formed Magna Drivetrain group as a major supplier of four-wheel and all-wheel drive systems manufactured in Europe and North America.^[4]

Tesma was privatized again by Magna in December 2004.^[5][6] In 2005, Magna merged Magna Drivetrain with Tesma to form Magna Powertrain.^[7] In July 2015 Magna Powertrain acquired Getrag, a major transmission manufacturer, for $1.9 billion.^[8] The acquisition gave Magna Powertrain access to Getrag's transmission systems, including recent hybrid designs.^[9]

Major customers include:^[10]

• General Motors (GMC, Buick, Cadillac, Chevrolet)
• Mercedes-Benz Group (Mercedes-Benz)
• Tata (Jaguar)
• BMW (BMW, MINI)
• Ferrari
• Stellantis North America (Jeep, Chrysler, Dodge, Ram)
• Stellantis Europe (Fiat, Alfa-Romeo)
• Ford (Ford, Lincoln).

Magna Powertrain is divided into two manufacturing group, their transmission systems and their driveline systems groups.^[11] The transmission systems group was formed in 2016 from the acquisition of Getrag. The group produces manual, dual-clutch, and hybrid transmissions formerly produced by Getrag.^[9] The driveline systems group produces four-wheel drive and all-wheel drive driveline systems. They produce transverse and longitudinal drivetrain layouts for a variety of vehicle types.^[11] The company also has a metal-forming group and an engineering services group.^[11]

In November 2006, Magna Powertrain and Amtek Auto Ltd. signed a 50-50 joint venture to establish a manufacturing facility outside of New Delhi, for two-piece flexplate assemblies for automotive applications.^[13] In October 2007, Magna Powertrain and RICO Auto Industries Ltd, a full-service Indian-based powertrain components and assemblies supplier, signed a 50-50 joint venture to establish a new manufacturing facility located in Gurgaon. The facility produces oil and water pumps with aluminum housings for automotive engine applications for Indian and European markets.^[14]

In January 2009, WIA Corporation and Magna Powertrain formed a 50-50 joint ventures to establish a new manufacturing facility located in Asan, Korea. The facility produces and supplies all-wheel-drive couplings for Hyundai Motor Group.^[15]

In July 2021, LG and Magna Powertrain formed a LG majority (51%-49%) joint venture to establish LG Magna e-Powertrain in Incheon, South Korea. The goal of the joint venture is to manufacture electric motors, inverters, on-board chargers and other "e-drive systems."^[16]