Magna to engineer and build off road electric vehicle for industrial group Ineos
The Canadian PressBusiness Operations Industry Sustainability Automotive Manufacturing
Magna International Inc. says it will engineer and build electric off-road vehicles for U.K.-based industrial conglomerate Ineos Group Ltd.
Aurora, Ont.-based Magna says the contract will see it produce the vehicles at its facility in Graz, Austria with a 2026 expected start.
Magna began working with Ineos in 2018 to engineer its first vehicle, a 4×4 fossil-fuel powered vehicle called the Grenadier.
The automotive company already produces several models at the Graz plant, including Jaguar and Fisker electric vehicles, and has drawn speculation as being a potential producer for an Apple Inc. car thought to be in development.
Magna is also working to increase its EV-related production in Canada, announcing in February a $471 million investment across six Ontario locations to expand its EV parts capacity.
Ineos is a chemical company with some $65 billion in annual revenues operating in 29 countries that has branched into consumer goods through its auto division as well as a hygiene and clothing brand.
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