XPeng Joins Forces With Magna To Build EVs In Austria

Core Insights - XPeng Inc. has partnered with Magna International to assemble two electric vehicle models in Europe, marking XPeng as the first Chinese automaker to localize production at Magna's facilities [1][4] - Production is set to begin in the third quarter of 2025 at Magna's plant in Graz, Austria, emphasizing the importance of localized production for Chinese automakers expanding in Europe [1][4] Company Collaboration - Roland Prettner, president of Magna Complete Vehicles, described the collaboration as a "significant milestone" and expressed readiness to support XPeng's growth plans in Europe [2] - XPeng's Vice Chairman and President Brian Gu referred to the partnership as the company's "first step" towards a long-term commitment to the European market [2] Industry Context - Magna has over a century of manufacturing experience, having developed more than 40 complete vehicles and built over 4 million cars globally, positioning itself as a key partner for automakers entering Europe's competitive EV market [3] - The deal highlights the increasing significance of Europe in the global EV race, as Chinese automakers enhance their international strategies while Magna solidifies its role as a contract manufacturer [4]