Magna Powertrain to cut 200 jobs
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Magna Powertrain is cutting 200 jobs in Lannach, Austria, due to a lack of orders, particularly following Fisker's insolvency, which eliminated the need for electric motors initially planned for production. The Lannach site was intended to be a hub for electric mobility but is now facing challenges, including the closure of the Roitzsch plant in Germany, affecting 250 jobs. Additionally, Jaguar is halting production of two models at Magna Steyr until 2027, and Ineos has postponed the launch of its electric vehicle.
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