Jaguar-Land Rover has determined to not renew its manufacturing contract with Magna Steyr because it seems to transition from a “mass premium” model to a luxurious EV automaker in 2025. That is the most recent OEM to drop Magna Steyr, which is now increasing its seek for new shoppers to different world automakers.
Jaguar-Land Rover first introduced its contract manufacturing settlement with Magna Steyr – the Austrian manufacturing arm of Canada’s Magna Worldwide, in 2015. Since 2017, Magna has been answerable for the manufacturing of two Jaguar fashions, together with the combustion E-Tempo and I-Tempo EV.
Throughout a June 19 name with traders, Jaguar divulged plans to nix manufacturing of 5 “zero revenue” fashions together with the 2 SUVs listed above, because it transitions into turning into a extra boutique, all-electric model. This announcement echoes information by Jaguar shared final March that it’s working to abandon all ICE car manufacturing forward of a recent begin as an ultra-luxe BEV model.
Jaguar’s contract with Magna Steyr expires this December, and given the automaker’s lately shared plans, it has determined to not renew. This transfer is the most recent in a sequence of clientele exiting agreements with the Austrian manufacturing facility, which has loads of meeting traces that can quickly be open for enterprise.
Jaguar nixes EV manufacturing forward of brand name rebirth in 2025
Immediately’s information is the most recent shift in Jaguar’s enterprise technique as it really works to deal with EVs subsequent 12 months, promising a minimum of three new all-electric fashions on the horizon at its personal manufacturing amenities.
The automaker shuttered manufacturing of its XE and XF sedans and F-Sort sports activities automobiles this previous Could and can now do the identical to the E-Tempo and I-Tempo SUVs earlier than the top of the 12 months.
The expiring manufacturing contract may depart Magna Steyr additional in need of work, because the Austrian plant was already left within the chilly by Fisker after the American automaker filed for chapter in June.
The power was additionally tapped to construct INEOS’ BEV model of the Fusilier SUV, however that shopper introduced a delay to that car’s growth and manufacturing final month.
Magna Steyr presently assembles the G-Class SUV for Mercedes-Benz, the BMW Z4 roadster, and the Toyota Supra. As we reported again in Could, the contract producer is holding discussions with a number of Chinese language OEMs to offset its dwindling buyer base.
This may very well be a clever technique because the EU lately imposed giant tariffs on Chinese language EV imports, so these automakers are scrambling to localize BEV manufacturing in Europe and the Graz plant would provide a seasoned facility that is able to go.
Following the exit from manufacturing with Magna, Jaguar will construct its new line of EVs at its Halewood plant. The three new fashions have been toured as “reimaged trendy luxurious Jaguars,” – the primary of which shall be a four-door electrical GT constructed atop the automaker’s distinctive JEA platform.
We don’t know a lot else concerning the new Jaguar EV line forward of localized manufacturing, however they need to be fairly luxurious and, in consequence, fairly costly because the automaker rebrands itself as a extra unique high-end marque, much like Maserati.
RIP I-Tempo.
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