Magna Adds to its All-New Electric Vehicle from INEOS Automotive
- New business award includes engineering and manufacturing of the INEOS Automotive electric off-road vehicle
- Production expected to start in 2026
- Builds on Magna’s expertise as the largest multi-OEM complete vehicle manufacturer
Ineos, owned by billionaire chemicals tycoon Jim Ratcliffe, said mid-April it would build its upcoming electric 4×4 at a factory in Graz, Austria. The yet-unnamed model will be developed with Ontario, Canada-headquartered Magna International, with production beginning in 2026, Ineos said in a statement April 17. The new vehicle will be smaller than the Grenadier, Ineos’s first model that is currently made at a plant in France.
Ratcliffe’s Ineos Group began making the Grenadier — an homage to Jaguar Land Rover’s original rugged Defender — after failing in a bid to bring back the original model when JLR decided to end production in 2016. Ineos considered building the Grenadier in Wales, but in the end it took over Mercedes-Benz’s plant in Moselle, near the French-German border.
The Grenadier is powered by gasoline and diesel engines made by BMW, and is named after a pub in London where Ratcliffe said the idea for his own Defender-replacement was hashed out.
Magna has been awarded a contract to manufacture an all-new INEOS Automotive electric off-road vehicle, expected to start production in Graz, Austria in 2026. In addition to manufacturing, Magna will also be responsible for the engineering of the complete vehicle.
Smaller than the INEOS Grenadier, this all-new battery electric model will deliver world-class off-road capability, without compromising on-road comfort or performance, INEOS said. Part of the development process for this new 4X4 will include a rigorous testing program on Austria’s Schöckl mountain, which is close to Magna’s complete vehicle assembly facility.
AURORA, Ontario, April 17, 2023 – Magna is adding a new customer in engineering and complete vehicle manufacturing with the announcement that it has been awarded a contract to manufacture the all-new INEOS Automotive electric off-road vehicle contract – which is expected to start production in Graz, Austria in 2026. In addition to manufacturing, Magna will also be responsible for the engineering of the complete vehicle.
“We are excited to have been chosen as INEOS Automotive’s strategic manufacturing partner, building on the strength of our existing relationship in vehicle engineering,” said Roland Prettner, Interim President, Magna Complete Vehicles. “This new electric vehicle adds nicely to our line-up in Austria and showcases our flexibility in producing a range of vehicles from ICE-based to fully electric.”
Magna started working with INEOS Automotive in 2018 on complete vehicle engineering services ahead of the launch of the company’s first 4X4, the Grenadier.
“Having worked together on the engineering of our crucial first product, we’ve seen first-hand the value of applying Magna’s agility, expertise and experience to a complete vehicle development program,”
said Lynn Calder, CEO of INEOS Automotive.
“Deepening our collaboration is a natural next step as we use the Grenadier as a springboard for our continued growth as a global automotive brand with our second model line. We’ll once again work with the very best partners to launch another world-class product to our customers in 2026.”
Magna has provided complete vehicle services to global automakers for decades. The company has produced more than four million vehicles including different models for both traditional automakers and new entrants from its facilities in Graz, Austria, and Zhenjiang, China (a joint venture with BJEV).
“As a leading global contract manufacturer with a strong infrastructure and a highly qualified workforce, Magna is ideally positioned to support automakers like INEOS Automotive in turning their mobility vision into reality,” added Prettner.
INEOS Automotive, Complete Vehicles, Vehicle Engineering, Mobility, Contract Manufacturing, Electric Vehicles
Louis Tonelli, Vice-President, Investor Relations
[email protected], 905-726-7035
Tracy Fuerst, Vice President, Corporate Communications & PR
[email protected], 248-761-7004
Magna is more than one of the world’s largest suppliers in the automotive space. We are a mobility technology company with a global, entrepreneurial-minded team of 168,000 employees and an organizational structure designed to innovate like a startup. With 65+ years of expertise, and a systems approach to design, engineering and manufacturing that touches nearly every aspect of the vehicle, we are positioned to support advancing mobility in a transforming industry. Our global network includes 343 manufacturing operations and 88 product development, engineering and sales center’s spanning 29 countries.
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