Maker of Jaguar I-Pace, BMW Z4 faces uncertain future

The overflow factory of choice for car makers in the UK and Germany is facing an uncertain future after the planned and unplanned ending of contracts leave it with just one vehicle to build.

Magna Steyr in Austria, a division of Canadian automotive giant Magna International, is a contract manufacturer of long-standing that has built more than four million examples of 34 different models to date.

However, the plant is about to be reduced to just the Mercedes G-Class, threatening its future as a going concern.

The storied plant situated in in the eastern city of Graz in the Alpine foothills “is experiencing uncertainty”, Magna’s financial report for the second quarter ending 30 June stated bluntly.