Skip to main content
Sister Publication Links
  • Automotive News
  • Automotive News Europe
  • Automotive News China
  • Automobilwoche
Subscribe
  • Subscribe
  • login
  • HOME
  • News
    • News by Brand
    • Auto Shows
    • Canadians Abroad
    • Photo Galleries
    • Automakers
    • Suppliers
    • Retail
    • Dealer Best Practices
    • Government Relations
    • Trade and Tariffs
    • Technology
    • Labour
    • Aston Martin
    • BMW
      • Mini
      • Rolls Royce
    • Daimler
      • Mercedes Benz
      • Smart
    • Ferrari
    • Ford
      • Lincoln
    • General Motors
      • Buick
      • Cadillac
      • Chevrolet
      • GMC
    • Honda
      • Acura
    • Hyundai
      • Kia
    • Mazda
    • Mitsubishi
    • Nissan
      • Infiniti
    • Stellantis
      • Alfa Romeo
      • Chrysler
      • Dodge
      • Fiat Chrysler
      • Jeep
      • Fiat
      • Lancia
      • Maserati
      • Ram
    • Subaru
    • Tata
      • Jaguar
      • Land Rover
    • Tesla
    • Toyota
      • Lexus
    • Volkswagen
      • Audi
      • Bentley
      • Bugatti
      • Lamborghini
      • Porsche
    • Volvo
    • VinFast
    • Toronto Auto Show
  • Opinion
    • Blogs
  • Video
  • Podcasts
  • EVENTS & AWARDS
    • 2022 Auto News Canada All-Stars
    • 2022 Canadians To Watch
    • 2022 Diversity Champions
    • Best Dealerships To Work For
    • Canada Congress
    • Retail Forum: Dealer Discussions
    • Leading Women Roundtables
    • Embracing Diversity Roundtable
    • EVs Decoded
  • Jobs & Classifieds
  • +MORE
    • IN THE DRIVER'S SEAT
    • NEWSLETTERS
    • SUBSCRIBE
    • CLASSIFIEDS
    • PEOPLE ON THE MOVE
    • COMPANIES ON THE MOVE
    • WEBINARS
    • ADVERTISE WITH US
    • CONTACT US
    • DIGITAL EDITION
    • PUBLISHING PARTNERS
MENU
Breadcrumb
  1. Home
  2. Manufacturing
September 08, 2022 06:15 AM

Magna Steyr eyes U.S. for 'climate-friendly' plant

The contract manufacturer's interest comes after President Joe Biden signed a law that provides subsidies for electric vehicles built in North America

BURKHARD RIERING
Automobilwoche
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print
    Fisker Ocean.jpg

    Magna Steyr will begin production of the Fisker Ocean in November at its plant in Graz, Austria.

    Magna Steyr, the Austria-based contract manufacturer owned by Canada's Magna International Inc., is considering opening a plant in the U.S.

    "We want to enter the U.S. market. We are intensively looking for a location right now," Magna Steyr's vice president, Kurt Bachmaier, told Automotive News Canada affiliate Automobilwoche.

    Bachmaier did not disclose where Magna Steyr might build its plant, but said the company is looking at areas that have suitably qualified employees, access to suppliers and plenty of space.

    The company will also choose a site based on how windy and sunny it is because it intends to generate sustainable electricity.

    “We want a climate-friendly plant,” Bachmaier said.

    He said California has been ruled out as a potential site.

    President Joe Biden has signed a sweeping climate, tax and healthcare measure into law that provides subsidies for electric vehicles, but has stipulated that the EVs must be built in North America.

    Under the terms of the act, about 20 electrified models will qualify for EV tax credits of up to US$7,500. However the act ends credits for about 70 per cent of the 72 models that were previously eligible, according to the Alliance for Automotive Innovation, an industry trade group.

    Magna Steyr currently builds the BMW Z4, Toyota GS Supra, Jaguar I-Pace, Jaguar E-Pace and Mercedes G-Class models at its plant in Graz, Austria.

    Production of Fisker’s Ocean full-electric SUV will be added in November.

    Magna Steyr for many years has considered establishing a contract assembly plant in North America. Speculation emerged last year that the company could build the long anticipated Apple car.

    Automotive News Europe contributed to this report

    Editor’s note: An earlier version of this story incorrectly described where final assembly of EVs must take place for a vehicle to qualify for U.S. tax credits. Final assembly must occur in North America.

    RECOMMENDED FOR YOU
    The latest numbers on the microchip shortage: Ford, others grapple with more cuts
    Recommended for You
    The latest numbers on the microchip shortage: Ford, others grapple with more cuts
    The latest numbers on the microchip shortage: Ford, others grapple with more cuts
    The latest numbers on the microchip shortage: Improvement, but no end in sight
    The latest numbers on the microchip shortage: Improvement, but no end in sight
    CANADA_161029908_AR_-1_ZCRJLYYPWPZU.jpg
    Quebec appears out of running for Volkswagen battery cell plant
    Left to right: Farid Ahmad, Peter Heasty, Landon Robertson
    Sponsored Content: EXPERT INSIGHTS: Buy/Sell Trends
    Digital Edition
    Jan 2023 Issue
    View latest issue
    See our archive
    Sign up for free newsletters
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.

    Get Free Newsletters

    Sign up today for our Weekly Newsletter, Daily Newsletter and Breaking News Alerts. We'll deliver the news you need to know straight to your inbox.

    You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.

    Subscribe Now

    An Automotive News Canada subscription includes 12 monthly issues – delivered in print to your doorstep, and digitally to your inbox – plus unlimited, 24/7 access to our website.

    Subscribe Now
    Connect With Us
    • Facebook
    • Twitter
    • Instagram

    Our Mission

    The Automotive News Canada mission is to be the primary source of industry news, data and understanding for the industry's decision-makers interested in Canada.

    Contact Us

    1155 Gratiot Ave
    Detroit MI 48207

    1-877-812-1257

    Email Us

    ISSN 2475-5001 (print)
    ISSN 2475-501X (online)

    Resources
    • About us
    • Contact Us
    • Digital Edition Archive
    • Advertise with Us
    • Reprints
    • Ad Choices Ad Choices
    • Sitemap
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Automotive News Canada
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • HOME
    • News
      • News by Brand
        • Aston Martin
        • BMW
          • Mini
          • Rolls Royce
        • Daimler
          • Mercedes Benz
          • Smart
        • Ferrari
        • Ford
          • Lincoln
        • General Motors
          • Buick
          • Cadillac
          • Chevrolet
          • GMC
        • Honda
          • Acura
        • Hyundai
          • Kia
        • Mazda
        • Mitsubishi
        • Nissan
          • Infiniti
        • Stellantis
          • Alfa Romeo
          • Chrysler
          • Dodge
          • Fiat Chrysler
          • Jeep
          • Fiat
          • Lancia
          • Maserati
          • Ram
        • Subaru
        • Tata
          • Jaguar
          • Land Rover
        • Tesla
        • Toyota
          • Lexus
        • Volkswagen
          • Audi
          • Bentley
          • Bugatti
          • Lamborghini
          • Porsche
        • Volvo
        • VinFast
      • Auto Shows
        • Toronto Auto Show
      • Canadians Abroad
      • Photo Galleries
      • Automakers
      • Suppliers
      • Retail
      • Dealer Best Practices
      • Government Relations
      • Trade and Tariffs
      • Technology
      • Labour
    • Opinion
      • Blogs
    • Video
    • Podcasts
    • EVENTS & AWARDS
      • 2022 Auto News Canada All-Stars
      • 2022 Canadians To Watch
      • 2022 Diversity Champions
      • Best Dealerships To Work For
      • Canada Congress
      • Retail Forum: Dealer Discussions
      • Leading Women Roundtables
      • Embracing Diversity Roundtable
      • EVs Decoded
    • Jobs & Classifieds
    • +MORE
      • IN THE DRIVER'S SEAT
      • NEWSLETTERS
      • SUBSCRIBE
      • CLASSIFIEDS
      • PEOPLE ON THE MOVE
      • COMPANIES ON THE MOVE
      • WEBINARS
      • ADVERTISE WITH US
      • CONTACT US
      • DIGITAL EDITION
      • PUBLISHING PARTNERS