Magna International, the world's third largest auto parts maker, has continued to expand in China with the construction of a new manufacturing facility in northern China's Tianjin municipality, local authorities said Tuesday.
Construction of the new facility owned by Magna Powertrain, an operating unit of Magna, started on Monday, said a government official with the Binhai New District of Tianjin where the new plant is located.
The 68-million-U.S.-dollar facility, which is expected to go into operation next year, will make rear axle drives and power take-off units for Volkswagen and Audi models assembled in China, with an annual production capacity of 500,000 units, said the official.
Magna International currently has 17 plants and six engineering centers in China.
