TORONTO — Magna International has signed a deal to assemble two electric vehicle models for Chinese automaker Xpeng in Europe.
Financial terms of the deal agreement were not immediately available.
Serial production of the vehicles is set to begin in third quarter of 2025.
The Ontario-based company says the deal marks the first complete vehicle assembly for a Chinese automaker out of Magna’s operations in Graz, Austria.
Xpeng president Brian Gu says the partnership with Magna is a first step toward growth in Europe where it plans a long-term commitment.
Magna has more than 300 manufacturing operations and more than 100 product development, engineering and sales centres around the world.
This report by The Canadian Press was first published Sept. 15, 2025.
