TOKYO/FRANKFURT, Germany -- Magna Steyr of Austria, the world's largest contract manufacturer of automobile bodies, is drawing attention as new entrants in the auto industry from other sectors increase amid a global shift to electric vehicles.
Magna, which counts Sony among its clients, is becoming the Foxconn of the auto industry, company President Frank Klein said in a recent interview with Nikkei. Foxconn, or Hon Hai Precision Industry, is a world-leading electronics contract manufacturer based in Taiwan. The Wall Street Journal and other U.S. media have named Magna as a potential partner for Apple's EV project.
