Infiniti, the premium brand of Japanese manufacturer Nissan and Magna Steyr, a subsidiary of Magna International, have signed an agreement in principle for the production of a new compact car in the premium segment. Production start is planned for 2014. After being under contract for the development, at the Magna Steyr already intensively worked, now the basic premises were set for the total vehicle production.
"The new vehicle is the Infiniti brand represents a significant opportunity to attract new customers and expand into key markets such as Western Europe," said Andy Palmer, EVP responsible for Infiniti, the Nissan Motor Company. "We are pleased to realize together with Magna Steyr of this important product."
Guenther Apfalter, President of Magna Europe, Magna Steyr, "It is our great pleasure to have signed with the client Infiniti this agreement for the first vehicle project This is an important step to further diversify our customer portfolio as a developer and contract manufacturer of complete vehicles.. "
The production contract is currently being finalized. More information will follow at a later date.
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