Based in Aurora, Ontario, Magna is the parent company of Magna Steyr, the European car manufacturer that builds niche vehicles for the likes of Audi, Fiat and DaimlerChrysler amongst others. Magna Steyr’s current production line up includes right-hand drive versions of the Chrysler 300 as well as the Jeep Cherokee and Commander.
Currently the car is still in the crucial proof of concept stage. Magna, who is the third largest auto parts maker, has been in talks with car companies for several years now to fully develop its own vehicle. If production goes ahead the new car may hit showrooms in 2009. A final decision will be made within the next 6 months.