SAILAUF, Germany, July 7, 2016 – Magna International Inc. announced that it will be sponsoring the 11th annual Formula Student Germany (FSG) international design competition from August 9-14 at the Hockenheimring race track in Hockenheim, Germany.  The goal of the competition is to develop a race car that reflects real-life design, taking in account product properties, production requirements and cost.  

“We are excited once again to be sponsoring this year’s Formula Student Germany and witnessing these young engineers showcase their talent,” said Günther Apfalter, President of Magna Europe and Magna Steyr. “Our presence at the competition allows us to display ourselves as a key global automotive player and get in front of very talented engineers who can help us drive innovation for the future.”

FSG challenges students from universities around the world to compete against each other to design and manufacture a prototype single-seater formula race car and compose a sales plan for batch production of the vehicle. The competition complements the students’ course of study with experience in manufacturing, production and marketing, and provides real-life experience in combining the technical and economic goals of product development. 

About Magna International

We are a leading global automotive supplier with 306 manufacturing operations and 92 product development, engineering and sales centres in 29 countries. We have over 147,000 employees focused on delivering superior value to our customers through innovative products and processes, and World Class Manufacturing. These figures include manufacturing operations, product development, engineering and sales centres and employees in equity accounted operations.  Our product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, vision, closure and roof systems and modules, as well as complete vehicle engineering and contract manufacturing. 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