Steyr Motors secures EUR 65 million in revenue and EUR 13 million EBIT contribution over five years through joint venture with Shangyan Power in Singapore
- Additional growth opportunities in the ASEAN region
- New applications in the fields of industrial energy supply, commercial marine, and specialized off-road applications
- Guaranteed revenue and EBIT contribution included in the five-year plan starting 2026
Steyr, Austria, 8 September 2025 – Steyr Motors AG (ISIN AT0000A3FW25), one of the world’s leading companies in the field of customized engines for mission-critical defense and civil applications, announces the establishment of a joint venture with Shangyan Power Technology Jiangsu Co., Ltd. (“Shangyan Power”). Shangyan Power is one of Asia’s leading companies in the development and production of a wide range of diesel engines.
The joint venture is not only a strategic milestone in the internationalization strategy, opening up new growth opportunities in the ASEAN region and globally, but also secures a contractually guaranteed minimum contribution of EUR 65 million in revenue and EUR 13 million in EBIT within five years starting in 2026. Both partners thereby reaffirm their commitment to ensuring sustainable competitiveness and global growth. A key advantage for Steyr Motors, beyond the positive revenue and earnings effect, is that the capacity expansion through the joint venture requires no additional capital for investments or working capital.
This strategic partnership combines Steyr Motors’ international brand recognition, engineering expertise, and development capabilities with Shangyan Power’s regional market strength and manufacturing capacity. The result is an expanded product portfolio covering additional performance classes tailored to the diverse requirements of international customers in the fields of industrial energy supply, commercial marine applications, and specialized off-road applications. The new product line complements Steyr Motors’ existing core products without overlap, opening up new customer segments for the company. In the ASEAN region alone, Steyr Motors gains access to an additional addressable market potential in the three segments estimated at USD 13 to 20 billion.
“This partnership is a significant step in our global strategy,” explains Julian Cassutti, CEO of Steyr Motors AG. “It strengthens our ability to provide locally manufactured, high-quality propulsion solutions while expanding our product portfolio in a targeted manner. Together, we will unlock new markets, improve our responsiveness, and establish a solid foundation for long-term success.”
The joint venture will support Steyr Motors in expanding its global sales and service network. This will enable Steyr Motors to serve a broader customer base more efficiently and quickly. Operations are scheduled to begin at the end of 2025.
Company profile of Steyr Motors AG
Headquartered in Steyr, Austria, Steyr Motors AG is a global leader in the development and production of high-performance customized special engines with high power density and durability. The Company’s engines are primarily used for military special vehicles, boats (both military and civilian) and as auxiliary power units (“APU”) for main battle tanks and locomotives. In the full year 2024, Steyr Motors generated an (adjusted) EBIT margin of 24%. For 2025, Steyr Motors is aiming for a year-on-year increase in revenue of at least 40%, an EBIT margin of above 20%, and a production volume of at least 1,250 units.
For more information, please contact:
Steyr Motors AG
Investor Relations
Phone: +436766222367
E-mail: ir@steyr-motors.com
www.steyr-motors.com
Press Contact in Germany, Austria, Switzerland
CROSS ALLIANCE communication GmbH
Susan Hoffmeister
Phone: +49 89 125 09 0333
E-mail: sh@crossalliance.de
www.crossalliance.de
Press Contact in France
CLAI
Matthieu Meunier
Phone: +33 06 26 59 49 05
E-mail: matthieu.meunier@clai2.com
Press Contact in UK
14:46 Consulting
Tom Sutton
Phone: +44 7796 474940
E-mail: tsutton@1446.co.uk
