Magna International Inc. will build the new four-door Rapide for sports car legend Aston Martin at the Canadian auto parts giant's assembly plant in Graz, Austria.
“The decision to outsource production of this incremental model has been taken because Aston Martin is currently enjoying unprecedented levels of success from an increasing number of markets around the world,” Aston Martin said in a statement Tuesday. “Demand for its current models — the DB9, the V8 Vantage and the recently launched DBS — means that their award-winning headquarters at Gaydon [Britain], is fast approaching full capacity of 8,000 cars.”
Magna has excess production capacity at its Magna Steyr operation in Graz, where it assembles vehicles on contract for BMW AG, Chrysler LLC, Mercedes-Benz and the Saab division of General Motors Corp.
Production of the Rapide is expected to begin next year with volume hitting about 2,000 cars annually.
The car will be assembled at a dedicated facility within Magna's Graz operations.
The design of the plant will be based on Aston Martin's production facility in Gaydon and the Aston Martin engine plant (AMEP) in Cologne, Germany, Aston Martin said. It will include a marble reception area and special Aston Martin clothing for employees.
Magna shares were trading at $71.94, down 49 cents, in morning trading on the Toronto Stock Exchange.
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