Sir Jim Ratcliffe has finally closed on the big deal he's been chasing. No, not Manchester United: Ineos Automotive has struck a deal with automotive manufacturer Magna to build its new electric 4x4 from 2026.
The new electrified Land Rover Defender rival will follow on from the larger ICE-powered Grenadier, and will be built in Graz, Austria at the huge Magna Steyr facility. Magna already builds electric cars such as the Jaguar I-Pace and, more recently, the Fisker Ocean SUV.
Ineos Automotive was founded by Sir Jim Ratcliffe, the chairman and CEO of chemical giant Ineos Group. After making his fortune, Ratcliffe founded his own car firm in 2017 to realise his dream of a ‘spiritual successor’ to the original Defender.
The resulting model, the Ineos Grenadier, with the rugged 4x4 arriving earlier this year with a choice of petrol and diesel engines, although the firm is working on a hydrogen fuel cell version for the future.
Ineos Automotive has now confirmed its new electric 4x4, pitched as a smaller ‘workhorse’ off-roader, will land in 2026 and promises to “deliver world-class off-road capability, without compromising on-road comfort or performance”.
Magna will also oversee all engineering development work for the new Ineos model, having been heavily involved in the production of the Grenadier.
Part of the development process for the new 4x4 will include a rigorous testing programme on Austria's Schöckl mountain, which is close to Magna’s manufacturing plant.
Commenting on the new partnership, Ineos Automotive CEO Lynn Calder said: “Having worked together on the engineering of the Grenadier, we’ve seen first-hand the value of applying Magna’s agility, knowledge, and experience to a complete vehicle development programme.
“Deepening our collaboration is a natural next step as we use the Grenadier as a springboard for our continued growth as a global automotive brand with this third model line,”
READ MORE
Subscribe to the Move Electric newsletter
e-CARS
New electric cars for 2022 and beyond: what’s coming when
New BMW i7 unveiled as luxury electric saloon
e-BIKES
Best e-bikes for every category 2022
Moustache Samedi 28.7 e-bike review
e-MOTORBIKES
Yamaha Neo's electric scooter review
Cake launches new global electric motorbike race series
e-SCOOTERS
Government set to announce plans to legalise private e-scooter use
New study finds e-scooters are five times safer than bikes
e-WORLD