Austrian-based contract producer Magna Steyr, a subsidiary of Canadian provider Magna International, is reportedly seeking to broaden its footprint and open a production plant within the USA.
“We need to enter the US market. We are intensively on the lookout for a location proper now,” Magna Steyr vp of gross sales and advertising and marketing Kurt Bachmaier informed Automobilwoche, as reported by Automotive News.
Mr Bachmaier didn’t point out the place the production plant could be, however reportedly dominated out the state of California.
The Austrian manufacturing firm is reportedly areas with a number of area, entry to suitably certified staff, and entry to suppliers.
Magna Steyr is considering utilizing how sunny and windy an space is as figuring out components, because it desires to generate sustainable electrical energy.
“We need a local weather-pleasant plant,” mentioned Mr Bachmaier.
Magna Steyr’s curiosity in an American production facility is probably going associated to Joe Biden’s lately-signed tax, local weather, and healthcare legislation stipulating electrical autos (EVs) should be constructed within the USA to qualify for subsidies.
Under the phrases of the act, solely 21 of the EVs bought within the US qualify for tax credit of as much as US$7500. That’s lower than 30 per cent.
Magna Steyr currents has a production plant in Graz, Austria and has a variety of contracts with OEMs to fabricate autos on their behalf.
In November it’ll start producing the Fisker Ocean electrical SUV at its Austrian plant, which can function CATL-provided batteries.
Last yr there have been experiences Apple had tapped Magna International and LG Electronics to construct its elusive, and nonetheless not confirmed, automobile.
At the time a supply conversant in the deal informed The Korea Times contract particulars are nonetheless being mentioned however Apple reportedly hopes to disclose a prototype of its electrical autonomous automobile in 2024.
Apple has reportedly since gone on to have talks with Toyota, alongside a vary of South Korean firms.
Magna traces its roots to the late Nineteen Fifties. In 1957, Austrian emigrant and entrepreneur Frank Stronach opened a software and die store in Toronto, often known as Multimatic Investments Ltd.
The firm was awarded its first automotive contract by General Motors, which commissioned it to supply metallic brackets to carry visors for numerous Canadian market fashions in 1959.
Magna International obtained its present title from a subsequent merger in 1969 with publicly-listed defence contractor Magna Electronics Corporation.
In 1998 the corporate acquired Steyr-Daimler-Puch, which is now the Austrian subsidiary Magna Steyr, and its automotive manufacturing services.