NISSAN MOTOR COMPANY - Infiniti, the luxury vehicle brand of the Nissan Motor Co., Ltd. has signed a memorandum of understanding with Magna Steyr, an operating unit of Magna International, for the assembly of a future luxury entry level Infiniti compact vehicle. Production of the vehicle is due to start in 2014. This tentative agreement follows an engineering assignment which Magna Steyr is already intensively working on.
"This new vehicle represents a significant opportunity for the Infiniti brand to reach new consumers and grow in key markets such as Western Europe," said Andy Palmer, Nissan Motor Company executive vice president who is responsible for Infiniti. "We are pleased to be working with Magna Steyr to realize this important product."
Günther Apfalter, President of Magna Europe and Magna Steyr, stated, "We are very delighted to sign this first vehicle assembly agreement with Infiniti. It is an important milestone to further diversify Magna Steyr's customer portfolio as a supplier of engineering services and complete vehicle assembly."
Both companies are currently finalizing the details for the manufacturing and supply agreements. No additional details are being released at this time.
About Infiniti
Infiniti, the luxury automotive brand from Japan, reflects its brand promise "Inspired Performance" with a model line-up of sedans, coupés, SUVs and crossovers featuring exhilarating performance, emotive design and cutting edge technology. Infiniti's global growth is supported by an expanding network of dedicated Infiniti Centers that share a commitment to exceptional customer hospitality throughout the entire period of ownership. Introduced in 1989 in the U.S.A., Infiniti will extend its global reach to more than 70 countries by 2016. Infiniti will also grow its production base with manufacturing capacity added in the U.S.A. (JX) and China (2 new models in 2014), and will expand the product portfolio to more than 10 vehicles, including the brand's first 100% EV luxury sedan and premium compact car, due in 2014. To explore new technologies, Infiniti launched the concept car EMERG-E, the exciting mid-engine sports car with range extender.
About Magna Steyr
More than 100 years of experience in automobile construction and its comprehensive range of services have turned Magna Steyr, a subsidiary of Magna International, into the world's leading, brand-independent engineering and manufacturing partner for automobile makers. Our extensive range of services consists of the four areas of Engineering, Vehicle Contract Manufacturing, Roof Systems and Fuel Tank Systems. As a contract manufacturer, we have produced some 2.5 million vehicles in 21 models.
Magna Steyr has at its disposal expertise in 37 locations and employs over 10,500 staff in North America, Europe and Asia.
About Magna International
Magna is the most diversified global automotive supplier. Magna designs, develops and manufactures technologically advanced automotive systems, assemblies, modules and components, and engineers and assembles complete vehicles, primarily for sale to original equipment manufacturers ("OEMs") of cars and light trucks. Magna's capabilities include the design, engineering, testing and manufacture of automotive interior systems; seating systems; closure systems; body and chassis systems; vision systems; electronic systems; exterior systems; powertrain systems; roof systems; hybrid and electric vehicles/systems; as well as complete vehicle engineering and assembly.
Magna has approximately 111,000 employees in 294 manufacturing operations and 87 product development, engineering and sales centres in 26 countries. More information on Magna can be found at www.magna.com