Chrysler 300C SRT8
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Magna Called News on Russia’s Plant Speculative
Canadian auto parts producer Magna International Inc. has called speculative the news on its plans to construct an automobile plant in Russia. The reports [in some media of Russia] were speculative and therefore Magna would not comment on them, Magna spokeswoman Tracy Fuerst said, Reuters reported.
Magna’s plans to build a plant worth $500 million to assemble Chrysler vehicles here were reported by some media in Russia November 13. The initial capacity was announced at 150,000 cars a year with the chance to double it in future.
Oleg Deripaska’s Basic Element could be Magna’s partner in this undertaking. In September, Basic Element bought out 20 percent in Magna for $1.54 billion.
But Russia has a Chrysler project already. The matter at stake is Siber car presented by GAZ Group this year.
Moreover, Russia’s automobile giant, AvtoVAZ agreed with Magna in May to jointly develop the C-class cars under procedures and standards of the Canadian company.
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