May 10, 2012
Infiniti and Magna Steyr Ink Vehicle Assembly Agreement
May 10 – Yokohama – Infiniti and Austrian auto manufacturer Magna Steyr said Thursday that they have signed a memorandum of understanding on the assembly of a new Infiniti luxury compact.
Production of the as-yet-unnamed car is slated for 2014 and follows an existing engineering assignment at the unit of Magna International.
The upscale compact is to be sold in key markets, including Western Europe, and part of bold global expansion plans for Infiniti, which aims for 500,000 sales annually by 2016.
Providing a possible glimpse of the future, Infiniti showed its Etherea concept, a compact luxury hybrid at the Geneva auto show last year.
Infiniti and Magna Steyr are finalizing details of manufacturing and supply agreements, with more announcements on the new model to come.