Russia’s GAZ confirms Opel interest
May 13, 2009 by Matt Brogan
Russian carmaker GAZ has confirmed its interest in creating a joint venture with Magna International and Opel.
Magna is competing with Fiat for General Motors’ European business, centered around Opel.
Both companies have presented proposals for the carmaker to the German government, which is being asked by GM to provide financial guarantees to Opel.
While expressing interest in Opel, debt-laden GAZ appeared also to distance itself from the bidding process.
“The role of GAZ Group in the project would potentially consist of organising manufacturing of passenger cars on its modern high-tech passenger car production site built in the Nizhny Novgorod plant in 2008,” the company said in a statement. “GAZ Group has a positive record of collaborating with Magna International and General Motors Europe on project development for the manufacture of popular cars for Russia and CIS markets.”
GAZ has long denied any involvement in the bidding process and has said it does not need Opel at a time when it is reshaping its Russian operations.
Russian Prime Minister Vladimir Putin said over the weekend that Magna had asked GAZ and unnamed Russian financial institutions to make a bid for a stake in Opel.
German media reports say Magna and GAZ could create a car giant producing up to 5 million vehicles a year.
Fiat is seeking a three-way merger with Chrysler and GM’s European operations, including Opel, Vauxhall and Saab.
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Make sense,
makes you wonder how many other rank B manufacturers from the rank B manufacturing nations will make it to the big arena by buying asset/brands from GM.
Russians taking stake in a German car company? I’m sure Hitler would be rolling in his pile of ash.
Ha SPam word FIAT;-)
Be interesting to see who has money, Fiat is looking for intelectual exchanges, not monetry. I reckon the respective governments involved would rather csh injections however, as far as I can see Gaz isn’t that flush neither.
I hear the new Gaz Volga runs on vodka. Good to see Russia getting behind new energy systems.
True story….
Maybe Borat will lead the markiting team. “GAZ is great, all other car makers are little girls”
The Salesman, That could actually work! haha.
I am suprised no one is just putting sh*t on Russia in these posts…
That would be ironic – don’t the russkies still make the Fiat 125.
never should have given these guys money!
Ha Ha reckless, so that would mean (according to some of the posters here) that the Russians would fit right in to taking over all of GM as they have old technology as well :-)
Isn’t it ironic how the current advert in the side bar seems to keep coming up with “Russian Girls” LOL
Russian cars are fantastic, buuletproof things! The 70’s cars might not be as good as Japanese/Euro counterparts in the handling department though.
I see Top Gear crap about Russian cars has really got into your brains. Idiots.
I wouldn’t buy a FIAT badged as an Opel or vice versa.
Russians bought out TVR and killed it, these guys are useless.
Will these Russian owned Opel factories have walls around them?
Jason the american,
Why wouldn’t they, tardo??
Our New Fiat Overlords
They make kick arse planes though!!!
Tomas76 let me tell you sumtin, don’t go telling me about Russians…
Go research where Russian and Americans got this plane technology from.
Our New Fiat Overlords,
I have probably forgotten more on that matter, then you will ever know!! Lot of the technology that the yanks are just starting to implement, russians had decades ago on their migs and suchois!!
I do like Russia’s stance on immigration. And I like their White Swan jet.
But Russia has no place trying to run a German company.
I do hope Germans are still fans of scorched Earth.
Hang on I think I heard someone say………”Russian cars are fantastic!”
Can anyone remember Lada!?!?!?!?!!!!!!! For Pete’s Sake!