Jaguar-Land Rover has decided not to renew its production contract with Magna Steyr as it looks to transition from a “mass premium” brand to a luxury EV automaker in 2025. This is the latest OEM to drop Magna Steyr, which is now expanding its search for new clients to other global automakers.
Expand Expanding Close
Austria-based contract manufacturer Magna Steyr has confirmed that several Chinese OEMs are discussing the possibility of local EV production ahead of further sales in Europe. The decision may be swayed by the looming threat of tariffs Europe may impose on China as several automakers continue to expand to new markets overseas.
Expand Expanding Close
It has been a turbulent couple of months since Fisker Inc. posted its Q4 2023 financial report and relayed concerns it could continue business in EVs. Fisker’s Austrian arm has reportedly filed for reorganization and court protection from creditors – the equivalent to Chapter 11 Bankruptcy in the US.
Expand Expanding Close
A recent report out of Austria states that local contract manufacturer Magna Steyr has been chosen by Volkswagen’s new all-electric truck brand Scout, to develop the latter’s first wave of vehicles. The order is reportedly worth nearly $500 million – potentially Magna Steyr’s biggest development contract ever.
Expand Expanding Close
Over the weekend, a Rivian R1T model was spotted in Germany with plates registered in Graz, Austria, suggesting a possible connection to contract vehicle manufacturer Magna Steyr. Is this the sign of what we’ve all been waiting for?
Expand Expanding Close
Building off a previous relationship with INEOS Automotive for contracted vehicle engineering, Magna is adding a new model to its complete vehicle manufacturing branch – an all-electric 4×4 designed to go off-road.
Expand Expanding Close
Following an announcement in May that it would be reviving its off-road Scout brand for an all-electric future, Volkswagen is reportedly in talks with contract manufacturer Foxconn to help manufacture the vehicles. Additionally, VW is considering Magna Steyr as another notable option.
Expand Expanding Close
American EV automaker Fisker Inc. has just hit a major company milestone years in the making. Contract manufacturer Magna Steyr has officially begun production of the Fisker Ocean SUV at its carbon neutral facility in Graz, Austria. With Magna’s help, this second iteration of the Fisker brand continues to prove the naysayers wrong while moving to deliver a truly unique looking EV.
Expand Expanding Close
Commercial EV startup Volta Trucks has shared another major milestone in its lightning fast 12-month journey in bringing its flagship Zero truck into production. The very first Volta Zero truck has rolled off its assembly line in Austria, kicking off a series of validation prototypes for customers before full commercial production next year.
Expand Expanding Close
Magna Steyr – an Austrian-based contract manufacturer owned by Magna International – recently shared aspirations to enter the US market and produce vehicles in a climate-friendly facility in North America. The facility overseas currently manufactures the Jaguar I-Pace and will begin production of the Fisker Ocean in November. Based on revised terms for US federal tax credits, could a move by Magna happen?
Expand Expanding Close
Samsung has acquired the battery pack business of leading automotive parts supplier Magna International. The move, according to a statement from the companies, will “enhance Samsung SDI’s capabilities in batteries for electric vehicles.”
While Samsung producing batteries and energy storage solutions for vehicles isn’t exactly new—it already supplies batteries for Tesla and others—there is an Apple Car connection in its latest acquisition…
Expand
Expanding
Close
