Steyr Motors Secures Development Contract with Singapore Defense Group

Steyr Motors AG has secured a landmark development contract with a Singapore-based defense and technology group. The agreement involves the development and supply of high-performance engines for a new all-terrain vehicle. This project is expected to generate significant sales potential, exceeding EUR 20 million by 2030, marking a notable expansion beyond current business.

Based in Steyr, Austria, Steyr Motors is a recognized leader in customized engine manufacturing for military and civilian uses. The new contract highlights their international competitiveness and expands their influence in Asian markets, excluding China.

The contract emphasizes the development of the M14TCI-120 engine, known for its power density and reliability, strengthening Steyr Motors' position in mission-critical drive systems. CEO Julian Cassutti expressed pride in the collaboration, comparing it to a prior contract with Rheinmetall Landsysteme GmbH, and sees it as a step towards further growth opportunities.