Nissan backs out of deal with Magna for future Infiniti assembly
Companies signed memorandum of understanding in May for future assembly by Magna Steyr
AURORA, Ont.—Nissan has reneged on an agreement with Magna that would have seen the Canadian-headquartered automotive supplier build future compact cars for the Infiniti luxury brand.
According to Magna, in May the two companies signed a memorandum of understanding that would have seen assembly of the future vehicle handled by Magna’s European engineering and assembly arm, Magna Steyr.
“Although we would have liked to see the assembly of Infiniti’s new compact vehicle realized at Magna Steyr, we are pleased that Magna remains an important supplier for Nissan,” Magna Steyr and Magna International Europe president Gunther Apfalter said in a statement.
“Nissan’s project team has affirmed their willingness to work with Magna Steyr if future contract assembly opportunities arise, and we look forward to supporting them as needed.”
Magna has 296 manufacturing operations and 88 product development, engineering and sales centres in 26 countries around the globe.