- Production to start later this year
- Second Jaguar model awarded to Magna
- Strengthens leadership in contract manufacturing
GRAZ, Austria, July 14, 2017 /CNW/ - As SUVs continue strong
sales in markets around the world – crossovers and SUVs grew to
almost 29 percent of all sales globally in 2016 – automakers are
launching new models to meet demand. This Includes Jaguar Land
Rover, which announced yesterday that their Jaguar E-PACE compact
SUV will be built by Magna at its contract vehicle manufacturing
facility in Graz, Austria.
E-PACE production is expected to begin in the fourth quarter of
2017. It is the second model Magna will contract manufacture for
Jaguar, following the announcement of the Jaguar I-PACE in
December 2016. Production of the
I-PACE is planned to start in the first quarter of 2018.
"We are proud to expand our partnership with Jaguar Land Rover
and contribute to their new E-PACE compact SUV," said Günther
Apfalter, President of Magna Europe
and Magna Steyr. "This second
collaboration in just a short time emphasizes the agility and
flexibility we provide automakers with our contract manufacturing
capability."
Including the Jaguar E-PACE, Magna will be manufacturing five
different models by the first quarter of 2018. The others are
Jaguar I-PACE, BMW 5 Series, BMW 530e plug-in hybrid, and
Mercedes-Benz G-Class.
With more than 100 years' experience in vehicle manufacturing,
Magna represents a leading partner for automakers. The company's
engineering and contract manufacturing expertise provides
additional production capacity for long-, mid- and short-term
needs. As a contract manufacturer, Magna has produced more than 3
million vehicles across 23 different models.
TAGS
Jaguar E-Pace, Jaguar Land Rover, contract manufacturing, SUV,
Magna Steyr
ABOUT MAGNA
We are a leading global automotive supplier with 321 manufacturing
operations and 102 product development, engineering and sales
centres in 29 countries. We have over 159,000 employees focused on
delivering superior value to our customers through innovative
products and processes, and world class manufacturing. We have
complete vehicle engineering and contract manufacturing expertise,
as well as product capabilities which include body, chassis,
exterior, seating, powertrain, active driver assistance, vision,
closure and roof systems. We also have electronic and software
capabilities across many of these areas. 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.
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SOURCE Magna International Inc.