Magna Steyr To Develop Nissan Infiniti Entry Model Based On Mercedes-Report
December 18 2011 - 10:04AM
Dow Jones News
Austrian-Canadian auto supplier Magna Steyr will develop the
entry model of Nissan Motor Co. Ltd.'s (7201.TO) Infiniti premium
brand based on Daimler AG's (DAI.XE) Mercedes A Class, weekly
newspaper Automotive News Europe reports Sunday.
Citing several people close to the companies involved, the
newspaper also says that Magna's main production facility in Graz,
Austria, will get the official production order in early 2012.
According to internal plans, it could build 50,000-60,000 of the
Infiniti entry model annually for global exports, the newspaper
says.
By choosing Magna and Mercedes, Nissan doesn't need to invest in
production facilities and saves on development costs, the newspaper
reports. Daimler gets licensing fees for each car manufactured and
benefits from economies of scale, according to the newspaper.
A Daimler spokeswoman declined to comment to Dow Jones Newswires
on the report. Magna Steyr wasn't immediately available to
comment.
Newspaper website: http://www.autonews.com
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500.
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