An Austrian based company called Magna Steyr is reportedly gearing up to build cars for four top end brands — Mercedes-Benz, BMW, Toyota, and Jaguar Land Rover in its factory located in Graz, Austria.
The Austrian company will build the Mercedes-Benz G-Class in its factory, along with the updated and redesigned BMW 5 Series. The BMW Z5 will also be built in the company's factory in Austria.
Since the BMW Z5 shares similarities with Toyota's upcoming Supra, the trademarked car will also be built by the Austrian company for Toyota and BMW.
Coming to Jaguar And Land Rover, the British carmaker is reportedly working on an electric car, which will be built in Austria by Magna Steyr. The new Land Rover Discovery that is to soon hit the roads will also be built in Austria by Magna Steyr.
Magna Steyr intends to start operations in 2018 and is planning to invest $558 million on the new projects. The Austrian company is planning to hire 3,000 employees and built 20,000 cars per year. To keep up with demand for these vehicles, there are possibilities of Magna Steyr setting up a second plant as well.