Magna Steyr Shall Develop Sports Cars for BMW, Toyota

Magna Steyr will produce 2 brand-new cars based on a cooperative task between BMW and Toyota at its plant in Graz, Austria, the regional Kleine Zeitung newspaper reports.

The companies in 2013 reached a cooperative arrangement that consists of the joint advancement of a sports car platform.

Report reads that Magna Steyr is anticipated to introduce production of the BMW sports car, a successor to the BMW Z4, in 2018, with the Toyota design to follow some months later. Strategies call for combined production of a minimum of 60,000 vehicles per year.

It would be the first time Magna Steyr would develop an automobile for a Japanese automaker.

Currently the contract assembler produces Mercedes-Benz G-Class, Mini Countryman and Paceman designs. Production of both Mini automobiles will be phased out later on this year.

Magna Steyr will release brand-new designs for BMW and Jaguar Land Rover in 2017. The names of the new automobiles to be made in Austria haven’t been announced yet, however media reports suggest the business will produce the new-generation BMW 5-Series in Graz.

It is broadening some parts of the Graz facility for new tasks.

In associated news, Magna Steyr states its contract with Daimler to produce the Mercedes-Benz G-Class has been extended to 2023.

Magna Steyr has put together about 23,000 automobiles this year through March, down 15% from like-2015.

The firm states it prepares to produce about 200,000 devices in 2018.