Magna International Awarded Vehicle Assembly Business with Xpeng

Magna International Inc., a Canada-based mobility technology company, has been awarded a vehicle assembly business with Chinese OEM Xpeng. The company specializes in body, chassis, exterior, seating, powertrain, active driver assistance, electronics, mechatronics, mirrors, lighting, and roof systems. Magna's global network spans 28 countries, with approximately 343 manufacturing operations and 105 product development, engineering, and sales centers.

Canadian automotive supplier Magna International (NYSE: MGA) has announced a significant milestone in its partnership with Chinese electric vehicle (EV) manufacturer XPENG (NYSE: XPEV). Magna has been selected to assemble two new models for the European market, marking the beginning of a long-term collaboration. Serial production is set to commence in Q3 2025, with operations based in Magna's Graz, Austria facility Canada's Magna International secures vehicle assembly business with XPENG^[1].

This contract represents Magna's first full vehicle assembly for a Chinese automaker in Europe, underscoring XPENG's commitment to expanding its presence in the region. The partnership aligns with Magna's extensive capabilities in vehicle engineering, contract manufacturing, and electronic systems, which span 28 countries and include 343 manufacturing operations and 105 product development, engineering, and sales centers Magna Wins Vehicle Assembly Contract With China's XPeng for European Market^[2].

Magna's expertise in areas such as body, chassis, exterior, seating, powertrain, active driver assistance, electronics, mechatronics, mirrors, lighting, and roof systems positions it as a key strategic partner for OEMs looking to expand in Europe. The company's global network and flexibility enable it to provide tailored and swift support to automotive manufacturers Magna International Inc. Receives Vehicle Assembly Business with XPENG^[3].

This contract further solidifies Magna's role as a leading player in the global automotive supply chain, especially in the rapidly growing EV market. As XPENG continues to expand its operations in Europe, Magna's involvement will be crucial in ensuring the successful production and localization of its smart electric vehicles.

References
Canada's Magna International secures vehicle assembly business with XPENG^[1] https://seekingalpha.com/news/4494729-canadas-magna-international-secures-vehicle-assembly-business-with-xpeng
Magna Wins Vehicle Assembly Contract With China's XPeng for European Market^[2] https://www.marketscreener.com/news/magna-wins-vehicle-assembly-contract-with-china-s-xpeng-for-european-market-ce7d58dad88af02c
Magna International Inc. Receives Vehicle Assembly Business with XPENG^[3] https://www.marketscreener.com/news/magna-international-inc-receives-vehicle-assembly-business-with-xpeng-ce7d58dada80f022