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Automotive Industry
Magna International's Magna Steyr division will develop new vehicles for Volkswagen Group's Scout brand, according to a report.
The company is reviving the iconic Scout brand to boost its sales in North America, with production of electric-powered pickups and SUVs expected to begin by the end of 2026.
VW has given Magna Steyr, an off-road specialist that builds the G-Class for Mercedes-Benz in Graz, Austria, an order worth €450 m ($492 m) to develop the models, the Austrian newspaper Kleine Zeitung reported, citing sources familiar with the matter.
The order is Magna Steyr's biggest development contract to date, the paper said.
Development work is already underway by Magna's engineers in Graz and in the US, and the two vehicles should be ready for series production by the end of 2026 after extensive prototype testing, Kleine Zeitung reported.
A Magna spokesperson in Europe said the company does not comment on speculation when asked by Automotive News Europe about the report.
VW said in March that it will build a US assembly plant for Scout in Blythewood, near Columbia, South Carolina, which is about 560 km (350 miles) east of its factory in Chattanooga, Tennessee.
More than 200,000 vehicles could be produced annually at the facility, Scout said at the time.