Magna Steyr opens doors to Chinese automakers amidst EU tariff talks
Magna Steyr is a contract manufacturer that produces vehicles on behalf of other brands. The most famous example is the Mercedes G, built in a factory in Graz, Austria. The company has just declared complete openness to manufacturers from China.
9:52 AM EDT, May 28, 2024
Money doesn't stink - the Austrians seem to follow this motto, engaging in intensive talks with Chinese manufacturers while the European Union wonders how to hinder them.
For months, the EU has considered imposing higher tariffs on vehicles imported from China to Europe. However, the Chinese plan to circumvent these regulations. Simply moving production to the Old Continent will suffice. One of the companies open to such a solution is Magna Steyr.
Magna Steyr President Roland Prettner admitted that the company is in constant contact with several Chinese manufacturers who would like to outsource production to the Austrian factory in Graz.
During a press conference at the factory, Magna Steyr President Roland Prettner explained that over the last 12 months, we had observed very high activity from all Chinese OEM manufacturers who have contacted us and want and need to localize the company. In addition to analyzing the company's role, Magna International's subsidiary can help them have a production plant here in Europe.
It is worth mentioning that collaboration with Magna Steyr is just one option that the Chinese can decide on, and many manufacturers have already taken matters into their own hands.
BYD announced plans to build its first European passenger car factory in Hungary. Chery signed a joint venture agreement with the Spanish company EV Motors to build cars in the former Nissan factory in Barcelona.
