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Magna Adds BMW 5 Series Production at Graz Plant
Magna International Inc. reports it will begin building BMW 5 Series sedans at its contract assembly facility in Graz, Austria, next year.
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Magna International Inc. reports it will begin building BMW 5 Series sedans at its contract assembly facility in Graz, Austria, next year. BMW will continue to make the same model in Dingolfing, Germany.
Magna has produced cars for BMW since 2001. The 5 Series program will replace BMW’s Mini Countryman and Paceman models that are being phased out. The company did not indicate target production volumes.
Magna predicts it will generate at least $5.3 billion in revenue from contract vehicle assembly programs. The company also makes models for Mercedes-Benz and Jaguar Land Rover. CEO Donald Walker tells Bloomberg News that, if demand warrant, the company could add capacity by buying a factory in China or partnering with a local assembler.
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