ASSEMBLY: Magna, Infiniti Sign Complete Assembly Agreement
Thursday, May 10th, 2012
Magna Steyr, a unit of Aurora, Canada-based Magna International, and Infiniti, the luxury car group of Nissan Motor Co. Ltd., have signed an agreement on the complete assembly of a new entry level luxury compact sedan to be sold under the Infiniti brand.
The agreement follows an engineering assignment that Magna Steyr is already working on with production of the vehicle scheduled to begin in 2014. Details on where the car will be built were not announced, but it would likely be in Europe, possibly at Magna Steyr's assembly plant at Graz, Austria.
"This new vehicle represents a significant opportunity for the Infiniti brand to reach new consumers and grow in key markets such as Western Europe," said Andy Palmer, Nissan Motor executive v-p responsible for Infiniti. "We are pleased to be working with Magna Steyr to realize this important product."
Gunther Apfalter, president of Magna Europe and Magna Steyr, added, "We are very delighted to sign this first vehicle assembly agreement with Infiniti. It is an important milestone to further diversify Magna Steyr's customer portfolio as a supplier of engineering services and complete vehicle assembly."
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