Magna awarded vehicle assembly business with XPeng

Magna (MGA) has announced that XPeng (XPEV) has selected the company to assemble two new models for the European market. Serial production of these new smart electric vehicles will begin in Q3, marking the start of a long-term collaboration for future models. For nearly 20 years, Magna has supported Chinese automakers with complete vehicle engineering, and since 2018, with domestic manufacturing and assembly services. This newly awarded program marks the first complete vehicle assembly with a Chinese OEM out of Magna’s operations in Graz, Austria, aligning with Xpeng’s commitment to European localization.