Valmet Automotive
Corporate brand
UnclaimedValmet Automotive is a Finnish contract vehicle manufacturer and automotive technology supplier specializing in vehicle production, roof and kinematic systems, and electric-vehicle battery systems.
Last updated August 31, 2026
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Overview
Valmet Automotive is a Finnish automotive manufacturing and engineering company headquartered in Uusikaupunki. It began in 1968 as Saab-Valmet, a joint venture between Finnish state-owned engineering group Valmet and Swedish vehicle manufacturer Saab-Scania. Its original role was to assemble Saab cars in Finland, but the business later developed into one of Europe’s established contract vehicle manufacturers, producing vehicles for a succession of international automotive companies rather than selling cars under a large consumer-facing Valmet Automotive marque. The company’s manufacturing history covers a broad range of passenger cars and specialty vehicles. After initially producing Saab models, it assembled Talbot and Simca vehicles for the Finnish market, followed by the Opel Calibra, Lada EuroSamara, Porsche Boxster and Cayman, Fisker Karma, Think electric vehicles, Garia electric golf cars, and several Mercedes-Benz models. Vehicle manufacturing remains centered on the Uusikaupunki plant, where the company states that more than 1.9 million vehicles have been produced. Mercedes-Benz became a particularly important customer: the Uusikaupunki facility began producing the A-Class in 2013, later added the GLC-Class, and started production of the Mercedes-AMG GT 4-Door Coupé in 2023. Valmet Automotive has expanded beyond final vehicle assembly through acquisitions, technical partnerships, and investment in electrification. In 2010 it acquired Karmann’s roof-component activities in Germany and Poland. The Roof Systems business subsequently broadened into Roof & Kinematic Systems, developing and manufacturing convertible-roof and roof-module technologies, spoilers, charging-flap mechanisms, and other moving exterior systems for premium and electric vehicles. Customers cited for this business include Mercedes-Benz, BMW, Mini, Bentley, McLaren Automotive, and Porsche. The company also built a battery-systems business as electric vehicles became a larger part of the automotive market. Its Salo facility began large-scale production of 48-volt systems in 2019 and later added high-voltage battery production. A second battery plant opened in Uusikaupunki in 2021, allowing battery packs to be produced alongside vehicle assembly. The company’s EV Systems business was renamed IONCOR in 2024. Battery engineering, testing, and production activities have extended across Finland and Germany. Ownership has changed several times. Valmet became the sole owner in 1992, and the company adopted the Valmet Automotive name in 1995. Metso owned it from 1999 to 2010, after which Finnish Industry Investment and Pontos became significant investors. CATL acquired a minority stake in 2017. The Finnish state and Pontos are identified as the principal owners in the supplied reference material, with the state holding the majority. A strategy and ownership arrangement described for September 2025 would place IONCOR under Finnish Minerals Group while enabling Valmet Automotive to broaden its industrial expertise beyond passenger vehicles, including possible applications in defense and other high-technology sectors.
History
Valmet Automotive was established in 1968 as Saab-Valmet, a joint venture between Finnish industrial group Valmet and Swedish automaker Saab-Scania. Its factory was located in Uusikaupunki, Finland, and during its first years the plant was dedicated to assembling Saab vehicles. This gave Finland an automotive production base while allowing Saab to expand manufacturing capacity outside Sweden. The company broadened its customer base in the late 1970s. From 1979 to 1985 it assembled Simca and Talbot models, including the Horizon and larger 1307-related cars. These vehicles were primarily intended for the Finnish market, and the arrangement also encouraged the development of a domestic supplier network. Saab remained central to the Uusikaupunki operation for decades, with production including the Saab 95, 96, 99, 90, 900, 900 Convertible, 900 CD, 9000, and 9-3 Convertible. The plant also produced special Finnish-market long-wheelbase versions and other low-volume derivatives. Valmet became the company’s sole owner in 1992, and the business was renamed Valmet Automotive in 1995. Under Metso ownership from 1999 to 2010, the company continued to develop as an independent contract manufacturer. Its later production portfolio included the Opel Calibra from 1991 to 1997 and the Lada EuroSamara from 1996 to 1998. From 1997 to 2011, it manufactured Porsche Boxster and Cayman models, strengthening its reputation for premium and technically demanding low-volume production. In 2010 Valmet Automotive acquired Karmann’s roof-component activities at sites in Osnabrück, Germany, and Żary, Poland. This expanded the company from vehicle assembly into roof-system engineering and manufacturing. The roof business later became Roof & Kinematic Systems, adding mechanisms such as spoilers and electric-vehicle charging flaps. Its customer base has included premium manufacturers such as Mercedes-Benz, BMW, Mini, Bentley, McLaren Automotive, and Porsche. Ownership changed again in 2010, when Finnish Industry Investment, later associated with Tesi, and Pontos acquired significant stakes. CATL became a minority shareholder in January 2017, alongside Pontos and Finnish Industry Investment. During this period the company also pursued electric mobility programs. It produced Think electric vehicles and Garia electric golf cars, and assembled the Fisker Karma for Fisker Automotive from 2011 to 2012. Mercedes-Benz became a major manufacturing customer during the 2010s. Daimler and Valmet Automotive announced an agreement for the Mercedes-Benz A-Class in 2012, with production beginning in August 2013. A further agreement for the Mercedes-Benz GLC-Class was announced in 2015, and GLC production began in February 2017. In 2017 the companies also announced a contract covering the next generation of Mercedes-Benz compact cars. GLC production ended in 2022, while production of the Mercedes-AMG GT 4-Door Coupé began in 2023. The current generation of the A-Class, the W177, entered production at Uusikaupunki in 2018. Electrification became a second major growth area. Valmet Automotive’s battery plant in Salo began large-scale production of 48-volt systems in 2019. Its high-voltage battery capability was completed in 2021. A battery facility at Uusikaupunki opened in September 2021, integrating high-voltage battery production with vehicle manufacturing. The company also developed battery engineering and testing capabilities at several Finnish and German locations. In 2021 it was selected to manufacture Lightyear 0 solar cars, but the program was canceled. A planned Sion production agreement with Sono Motors, announced in 2022, was also canceled. In 2024 the EV Systems business was renamed IONCOR. Reference material describing a September 2025 strategic reshaping states that IONCOR would become a subsidiary of Finnish Minerals Group, while Valmet Automotive would retain a majority Finnish-state ownership structure and continue to work with Pontos as a minority shareholder. The proposed strategic direction extends the company’s industrialization expertise beyond automotive, including defense and other high-technology sectors.
- 2024
EV Systems renamed IONCOR
[1]The company rebranded its EV Systems business as IONCOR.
- 2023
Mercedes-AMG GT 4-Door Coupé production starts
[1]Valmet Automotive began manufacturing the Mercedes-AMG GT 4-Door Coupé.
- 2021
Uusikaupunki battery plant opens
[1]A high-voltage battery facility opened at Uusikaupunki alongside vehicle manufacturing operations.
- 2019
Salo battery production scales up
[1]Large-scale production of 48-volt battery systems began at the Salo facility.
- 2017
CATL takes a minority stake
[1]CATL became a minority shareholder in Valmet Automotive.
- 2013
Mercedes-Benz A-Class production starts
[1]Uusikaupunki began contract production of the Mercedes-Benz A-Class.
- 2010
Karmann roof activities acquired
[1]The company acquired Karmann roof-component operations in Osnabrück and Żary.
- 1997
Porsche production begins
[1]Valmet Automotive began manufacturing Porsche Boxster and later Cayman models.
- 1995
Company renamed Valmet Automotive
[1]The company adopted the Valmet Automotive name.
- 1992
Valmet becomes sole owner
[1]Valmet acquired sole ownership of the automotive company.
Products and positioning
A specialized European contract manufacturer and technology partner for vehicle production, electrification, roof systems, and high-volume industrialization. The company positions its manufacturing and engineering capabilities as applicable not only to automotive customers but also to other high-technology industrial sectors.
Automotive manufacturing · 1968
Contract vehicle manufacturing
Valmet Automotive manufactures vehicles for external automotive brands at its Uusikaupunki plant. Its historical customers and programs have included Saab, Talbot, Opel, Lada, Porsche, Fisker, Mercedes-Benz, Lightyear, and other mobility companies. The offering is centered on flexible industrialization, assembly, and production of specialized or premium vehicles rather than consumer sales under the Valmet Automotive name.
Automotive components · 2010
Roof & Kinematic Systems
This business develops and produces convertible roofs, roof modules, spoilers, charging flaps, and other moving exterior systems. Kinematic components are intended to support aerodynamic efficiency, fuel economy, or electric-vehicle range while providing the mechanisms required for premium vehicle design. Operations expanded through the acquisition of Karmann’s roof activities in Germany and Poland.
Electric-vehicle systems · 2019
IONCOR battery systems
IONCOR is the renamed EV Systems business of Valmet Automotive. It produces and engineers 48-volt and high-voltage battery systems for electric and electrified vehicles. Production and engineering activities include facilities in Salo and Uusikaupunki in Finland and sites in Germany. The business supports battery-pack industrialization, testing, and integration.
Contract-manufactured sports cars · 1997
Porsche Boxster and Cayman
Valmet Automotive manufactured Porsche’s Boxster and Cayman sports cars from 1997 to 2011. The program demonstrated the company’s ability to produce premium vehicles and low-volume performance models for an international automotive customer.
Contract-manufactured passenger car · 2013
Mercedes-Benz A-Class
The Uusikaupunki plant began producing the Mercedes-Benz A-Class in 2013. Production later included the W177 generation, which entered the plant in 2018. The program made Mercedes-Benz one of Valmet Automotive’s most important manufacturing customers.
Contract-manufactured sport utility vehicle · 2017
Mercedes-Benz GLC-Class
Valmet Automotive started production of the Mercedes-Benz GLC-Class at Uusikaupunki in 2017. The contract ended in 2022.
Contract-manufactured performance car · 2023
Mercedes-AMG GT 4-Door Coupé
Production of the Mercedes-AMG GT 4-Door Coupé began at Valmet Automotive in 2023, extending the company’s relationship with Mercedes-Benz into a high-performance model program.
Brand decisions
2025
Broaden industrial focus beyond automotiveStrategyBackground
Valmet Automotive described a changing geopolitical environment and an opportunity to apply its serial-production expertise to additional high-technology sectors.
Action taken
The company announced a strategic and ownership arrangement involving the transfer of IONCOR to Finnish Minerals Group and a stronger focus on sectors such as defense.
Aftermath
The Finnish state would remain the majority owner of Valmet Automotive, with Pontos continuing as a minority owner.
2024
Rename EV Systems as IONCORStrategyBackground
The company reorganized and gave a distinct identity to its battery and electric-vehicle systems activities.
Action taken
Valmet Automotive renamed the EV Systems business IONCOR.
Aftermath
IONCOR continued as the group’s dedicated battery-systems business, with a later ownership transition described in the 2025 strategy announcement.
2019
Scale battery-system productionStrategyBackground
Vehicle electrification created demand for industrial battery-pack manufacturing and lower-voltage electrification systems.
Action taken
The Salo facility began large-scale production of 48-volt systems, followed by high-voltage battery capability.
Aftermath
Battery systems became a major business area, supported by the Uusikaupunki battery plant and engineering locations in Finland and Germany.
2015
Add Mercedes-Benz GLC-Class productionProduct launchBackground
Valmet Automotive expanded its Mercedes-Benz manufacturing portfolio.
Action taken
The company announced a contract to manufacture the Mercedes-Benz GLC-Class.
Aftermath
GLC production started in February 2017 and continued until 2022.
2012
Agree to manufacture Mercedes-Benz A-ClassProduct launchBackground
Daimler required additional production capacity for the Mercedes-Benz A-Class.
Action taken
Valmet Automotive and Daimler announced a manufacturing agreement for the A-Class at Uusikaupunki.
Aftermath
Production began in August 2013 and established a major long-term customer relationship.
2010
Acquire Karmann roof-component operationsM&ABackground
Valmet Automotive sought to expand beyond final vehicle assembly and build a dedicated automotive-component business.
Action taken
The company acquired Karmann’s roof-component activities in Osnabrück, Germany, and Żary, Poland.
Aftermath
The acquisition became the basis for the company’s Roof Systems and later Roof & Kinematic Systems business.
Recent events
Reported
Valmet Automotive opens Uusikaupunki battery factory[2]
Valmet Automotive completed the expansion of its car plant in Uusikaupunki, Finland, into a battery factory and held its grand opening. The facility is the second plant in the Valmet cluster to mass-produce EV battery systems.
Reported
Valmet Automotive announces Salo battery-system capacity expansion[3]
Valmet Automotive announced plans to expand battery-system capacity at its Salo plant in Finland; work on the expansion had already started and was expected to be completed by summer 2021.
Sources5 sources
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