BMW Group Announces Partnership With Magna Steyr For New BMW X3

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News of November 07, 2001

BMW Group Announces Partnership With Magna Steyr For New BMW X3

Working together on Development and Production

Dr Burkhard Göschel, BMW Group, Member of the board of management of BMW AG, development and purchasing (left) and Siegfried Wolf, President & CEO of Magna Steyr are signing the cooperation contract on the BMW X3.

Munich - The BMW Group and SFT (Steyr-Daimler-Puch Fahrzeugtechnik AG & Co. KG), Graz (Austria), a subsidiary of Magna Group, have signed a cooperative agreement covering the development and manufacture of the new BMW "X3" Sports Activity Vehicle. The detailed vehicle concept worked out by engineers from the BMW Group was forwarded to Magna Steyr Engineering for development. Production will be taken over by Magna Steyr Fahrzeugtechnik in Graz. The contract was signed yesterday in Munich.

By partnering with SFT on the realisation of the BMW "X3" project, the BMW Group is optimising its own resources and pushing forward with its product offensive. In Magna Steyr, the BMW Group has selected a partner with multiple years of experience. There has been in-depth cooperation between the companies for years in the field of BMW four-wheel drive technology in particular.

"Those who work alone can only accumulate; but those who cooperate intelligently can multiply," says Professor Dr.-Ing. Joachim Milberg, Chairman of the Board of Management of BMW AG. "Our cooperation with Magna Steyr increases the speed and flexibility of our company and is a further milestone in the consistent implementation of our product offensive."

The BMW "X3" is an expansion of the X family, and is an independent new development. As with all BMW vehicles, some elements will use BMW module units. All the vehicle components in the BMW "X3" will be signed off by the BMW Group's Development Departments. In addition, core areas of competence, such as design, engine construction, purchasing and customer service will remain the sole responsibility of the BMW Group.

Dr.-Ing. Burkhard Göschel, Member of the Board of BMW AG, Development: "We are making sure, right in the development process, that the "X3" will be a BMW through and through. Components where BMW is a step ahead in terms of expertise will continue to be developed by BMW engineers solely."

In order to integrate Magna Steyr in to the worldwide BMW development network, associates from Magna Steyr Fahrzeugtechnik will be trained at the BMW Group facilities. Further details about the product will be published as usual before the market launch.

Magna Steyr Fahrzeugtechnik will be building a new assembly building in Graz for production. The existing paint shop and shell construction facilities will be modified. The total project-related expenses total comes to EUR 500 million ($ 230 million). Around 2,500 associates will be employed in production. The BMW "X3" will be produced in Graz for exports to markets around the world. The production plants in Graz are designed for a capacity of over 300 vehicles per day. Production will be adjusted flexibly to demand. It is intended that series production should start in 2004.

(October 31, 2001)

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