Magna Steyr wants a U.S. plant and is already on the hunt for locations.
Magna Steyr, an Austrian contract manufacturer and engineering firm owned by Canadian automotive supplier Magna International, wants to establish an electric vehicle plant in the U.S. and is on the search for a location, Kurt Bachmaier, the company's vice president, toldWhile he didn't mention a location shortlist, he said a windy and sunny location is crucial as the company wants the plant to run on renewable energy. He also ruled out California as a potential candidate.
Magna Steyr has been considering a U.S. plant for years, but there's now extra emphasis with the recent passing of the Inflation Reduction Act, which requires EVs to now be built in North America to qualify for tax credits ranging up to $7,500. It means automakers will be looking to build more EVs in the region, and a contract manufacturer like Magna Steyr could offer a flexible solution.
Magna Steyr already builds the Jaguar I-Pace at its main plant in Graz, Austria, and starting later this year it will
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