Magna Strikes Deal to Build Electric Vehicles in China

Aurora-ON-headquartered Magna International Inc., a global automotive supplier, plans to engineer and build electric vehicles in China, marking the first time North America’s largest auto supplier is expanding its car manufacturing capabilities beyond its 20-year-old Magna Steyr venture. Magna is forming two joint ventures with China’s largest EV maker, Beijing Electric Vehicle Co. (BJEV). The engineering and manufacturing ventures are set to take over an existing factory in Zhenjiang with the intention of producing vehicles by 2020, Magna said in a statement Monday. Owned by Beijing Automotive Industry Holding Co., the parent of BJEV, the Zhenjiang plant has the capacity to build 180,000 vehicles a year and it will also offer engineering and complete vehicle manufacturing services to other customers. Magna’s Steyr facility in Graz, Austria, works in a similar way, doing contract manufacturing for automakers including BMW AG and Jaguar Land Rover.

Use 'AND' or 'OR' to refine your search.

Use quotes " " to get exact matches or remove them to get more results.