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Magna Partners in China on Contract Assembly Plan
Magna International Inc.’s month-old joint venture with BAIC Group aims to building vehicles for ride-hailing giant DiDi Chuxing Technology Co., sources tell Reuters.
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Magna International Inc.’s month-old joint venture with BAIC Group aims to build vehicles for ride-hailing giant DiDi Chuxing Technology Co., sources tell Reuters.
The sources say the contract assembly service will initially focus on BAIC’s own BJEV electric-car unit. But they say the company also aims to promote the concept to other Chinese carmakers, such as EV startup Singulato Motors.
Magna tells Reuters it hopes to duplicate its long-standing Magna Steyr contract production operation in Graz, Austria. That company has assembled vehicles on a for-hire basis for such brands as Audi, BMW, Chrysler, Jaguar, Jeep, Mercedes-Benz, Mini, Saab and Volkswagen.
Analysts note that contract assembly would provide startups a way to quickly launch production with the help of a highly experienced manufacturer. Doing so, some point out, would have avoided the 12 months of manufacturing struggles experienced to date by Tesla Inc.’s Model 3 EV program.
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