Fisker's Former Manufacturing Partner Magna in Talks With Chinese OEMs - EV

Written by Cláudio Afonso | LinkedIn | X

Magna Steyr, the automotive contract manufacturer, is actively exploring potential collaborations with Chinese OEMs to manufacture their vehicles in Europe. Magna has manufactured more than four million vehicles, including 34 different models from 11 automakers.

The ongoing discussions between the former manufacturing partner from the EV startup Fisker and Chinese OEMs come as several European markets welcome new electric models from China startups such as Xpeng, Nio, Aiways or Polestar.

Over the last weeks, Xpeng sales kicked off in the German market as the brand announced dealer partners for Portugal, Spain, Hong Kong, and Macau. In April, the brand signed with Hedin Automotive to sell its fully electric models in Belgium and Luxembourg followed by the announcement of the entrance into the French market last week.

During a media tour of the Graz plant, Magna Steyr President Roland Prettner express the company’s readiness to encounter with potential customers, emphasizing that capacity constraints are not an issue.

“Our capacity is not a limiting factor. We welcome opportunities to collaborate and meet the needs of our clients,” Prettner said to Autoweek.

Over the past year, there has been a notable surge in interest from various Chinese OEMs, with inquiries pouring in to explore potential partnerships with Magna Steyr. Prettner highlighted the significance of external factors such as tariffs and regulatory frameworks in shaping the feasibility of selling vehicles in Europe.

Magna Factory in Graz, Austria

“I think a lot of that will depend on how tariffs will be set up and how the rules of the game will be in Europe to sell vehicles here. We understand all the Chinese OEMs are testing today with different distributors, what they think the volume could be of their vehicles,” Magna Steyr President said.

With the capability to manufacture up to 150,000 vehicles across its three assembly halls and the potential for further expansion, Magna Steyr is well-equipped to meet the demands of potential collaborators.

Magna expects its total sales in 2024 to range between $42.6 – $44.2 billion decreasing from the previous estimate of $43.8 – $45.4 billion. In a side note of its updated 2024 outlook, Magna said its updated outlook “assumes no further production of the Fisker Ocean”.

On Friday, Fisker revealed the addition of Beka Auto, a dealer partnership situated in the Danish town of Sønderborg, into its network.

The EV startup has been growing its dealer network both in the US and Europe after its shift from direct sales to a dealer partnership model earlier this year. Earlier this month, Fisker decided to shutter its showroom in New York as part of this transitional phase.

Written by Cláudio Afonso | LinkedIn | X

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