AUBURN HILLS, Mich., Oct. 27 /PRNewswire-FirstCall/ -- After confirming
ratification of a third shift agreement at Brampton (Ontario) Assembly Plant,
Chrysler Group and Magna Steyr today announced plans to grow their production
relationship by forming a manufacturing agreement for the Chrysler 300C
Touring and Sedan vehicles for European and rest-of-the-world distribution.
Magna Steyr's Graz, Austria facility will add the rear-wheel-drive and all-
wheel-drive vehicles to its Chrysler Group production line up that currently
includes the Jeep(R) Grand Cherokee and the Chrysler Voyager.
"Since the introduction of the Chrysler 300C Touring and Sedan in markets
outside of North America, the public response to the vehicles has been greater
than we expected. For next year, demand from the markets is far beyond our
original projections," said Dieter Zetsche, Chrysler Group President and Chief
Executive Officer. "The production launch next year at Magna Steyr will
enable us to have 300Cs on the ground quickly to meet growing market demand
from a facility that has proven its expertise in building quality vehicles for
Magna Steyr will assemble the various offerings of the Chrysler 300C
Touring and Sedan, including: left- and right-hand drive versions; a high-
performance version -- the SRT-8; and a diesel-powered model that will launch
in late 2005. The vehicles will be assembled in the same facility as the
Grand Cherokee and Voyager, showcasing Magna's production flexibility.
"Magna Steyr is proud that the Chrysler 300C program will continue and
extend our excellent and long-standing partnership," said Manfred Remmel,
President and Chief Executive Officer - Magna Steyr. "In doing so, Chrysler
Group is building upon Magna Steyr's proven capabilities to support our
automotive partners as well as meet the quickly changing market needs in a
flexible and competent way."
The Brampton (Ontario) Assembly Plant in Canada is currently the only
production location for the Chrysler 300 Sedan and Touring and Dodge Magnum,
and soon-to-be-launched Dodge Charger. By adding a second production site for
the Chrysler 300 family, Chrysler Group will be able to satisfy demand in
Europe and rest-of-the-world markets, while not compromising its ability to
deliver more vehicles to North America, where demand is the highest.
Chrysler Group's manufacturing strategy for its rear-wheel-drive vehicles
underscores an ongoing commitment to the implementation of innovative forms of
flexibility. Today's announcement demonstrates another example of Business
Model Flexibility, which enables the company to start production of the 300C
outside North America without tying up additional capital for tooling and
equipment. It also minimizes costly issues associated with importing vehicles
into various markets worldwide, including distribution.
The Chrysler 300 family solidifies the brand presence in over a hundred
markets worldwide. It offers customers an expressive Chrysler design and
personality, an all-new platform with world-class, rear-wheel and all-wheel
drive technology, and exceptional interior driver and passenger space.
The 300 series offers the most powerful line of engines in its class,
including a fuel-efficient 2.7-liter V-6, 3.5-liter High-Output V-6,
culminating in the 5.7 liter HEMI(R) V-8. It also features cylinder
deactivation called Multi-Displacement System (MDS), providing the HEMI power
customers want with the fuel economy they will appreciate.
More than 105,000 Chrysler 300 and Dodge Magnum vehicles have been sold so
far this year. The Chrysler 300 commands 40 percent of the Canadian luxury
full-size vehicle segment and more than 30 percent of the U.S. luxury full-
size car segment, since its introduction.
Magna Steyr is a leading engineering and manufacturing partner to the
automotive industry's original equipment manufacturers (OEMs). The wholly
owned group of Magna International Inc. is also the world's leading supplier
of OEM contract vehicle assembly. Magna designs, develops and manufactures
automotive systems, assemblies, modules and components. It also engineers and
assembles complete vehicles for the North American, European, South American
and Asian markets. Magna has approximately 81,000 employees in 217
manufacturing operations and 49 product development and engineering centers in
SOURCE Chrysler Group