RESEARCH & DEVELOPMENT INCENTIVES

What Are Research & Development Incentives?

Incentives for research and development offset some of the significant costs associated with the development of new technologies.

How Does It Impact Magna?

Research and Development incentives from both the federal and various state governments have encouraged Magna to invest in several different technologies, including automated driving systems, ADAS, connectivity, electrification, and new mobility. For example, Magna, in partnership with the Illinois Institute of Technology and University of Wisconsin-Madison, has been awarded a grant by the U.S. Department of Energy (U.S. DOE) to develop and ‘auto-qualify’ advanced electric motor technologies for next-generation vehicle propulsion systems.

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