Jaguar-Land Rover has decided not to renew its production contract with Magna Steyr as it looks to transition from a “mass premium” brand to a luxury EV automaker in 2025. This is the latest OEM to drop Magna Steyr, which is now expanding its search for new clients to other global automakers.

Jaguar-Land Rover first announced its contract manufacturing agreement with Magna Steyr – the Austrian production arm of Canada’s Magna International, in 2015. Since 2017, Magna has been in charge of the production of two Jaguar models, including the combustion E-Pace and I-Pace EV.

During a June 19 call with investors, Jaguar divulged plans to nix production of five “zero profit” models including the two SUVs listed above, as it transitions into becoming a more boutique, all-electric brand. This announcement echoes news by Jaguar shared last March that it is working to abandon all ICE vehicle production ahead of a fresh start as an ultra-luxe BEV brand.

Source: Electrek.co