Magna to build EVs for Ineos

Magna will manufacture an electric SUV for Ineos Automotive. Production will kick off in Graz, Austria, in 2026. In addition to building it, Magna will also be responsible for the development of the complete vehicle.

Magna says Ineos Automotive is a new customer in engineering and complete vehicle manufacturing. The two companies already cooperated on a first vehicle, an internal combustion engine called Grenadier, in 2018. At that time, however, it was purely a matter of vehicle development services. Ineos took over the former Daimler plant in Hambach for the production of the Grenadier at the end of 2020, where the off-road vehicle has been built since 2022.

Ineos was originally a chemical company based in the UK. Its automotive subsidiary was founded in 2016. Magna will now take over manufacturing for the company’s first BEV-powered SUV.

“Having worked together on the engineering of our crucial first product, we’ve seen first-hand the value of applying Magna’s agility, expertise and experience to a complete vehicle development programme,” says Lynn Calder, CEO of Ineos Automotive. “Deepening our collaboration is a natural next step as we use the Grenadier as a springboard for our continued growth as a global automotive brand with our second model line,” he adds. “We’ll once again work with the very best partners to launch another world-class product to our customers in 2026.”

The partners are not naming any key points about the electric off-roader, so it remains open whether it will be a spin-off or an entirely new electric vehicle. Initially, the Grenadier was to have a hydrogen offshoot, and in 2020, Ineos announced a cooperation with Hyundai on fuel cells. According to German Auto, Motor, Sport, a test vehicle has been completed. However, in view of the hardly existing fuelling infrastructure, the project will be deprioritised in favour of the BEV model.

“This new electric vehicle adds nicely to our line-up in Austria and showcases our flexibility in producing a range of vehicles from ICE-based to fully electric,” says Roland Prettner, Interim President of Magna Complete Vehicles. “As a leading global contract manufacturer with a strong infrastructure and a highly qualified workforce, Magna is ideally positioned to support automakers like INEOS Automotive in turning their mobility vision into reality.”

globenewswire.com, auto-motor-und-sport.de (in German)