Magna to produce China's GAC electric vehicles in Europe

Core Viewpoint - Guangzhou Automobile Group (GAC) will manufacture its electric AION V model at a Magna facility in Austria to circumvent EU tariffs on China-made electric vehicles [1] Company Summary - GAC is strategically partnering with Magna to produce the AION V in Europe, which is expected to enhance its market position in the EU by avoiding tariffs [1] Industry Summary - The move reflects a broader trend in the electric vehicle industry where manufacturers are seeking local production to mitigate trade barriers and enhance competitiveness in international markets [1]