The ‘new Opel’ to be formed if Magna and Russian partners take over the GM Europe unit plans to invest EUR170m (US$247.5m) in operations in Russia, not the over EUR600m claimed earlier by an Opel trustee.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more


Magna co-chief executive Siegfried Wolf told a news conference held with Russian partner Sberbank’s chief that the more than EUR600m Magna had been said to have earmarked to modernise the Russian auto industry was “not correct” .


New agency Reuters noted that a German government spokesman in Berlin had also said EUR170m on Monday, adding this was subject to negotiations.

Just Auto Excellence Awards - Nominations Closed

Nominations are now closed for the Just Auto Technology Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact.

Excellence in Action
Continental has secured the Window Displays Innovation Award in the 2025 Just Auto Excellence Awards for its Window Projection solution, transforming side windows into dynamic, data-rich canvases. Discover how this compact projection technology and intelligent software are reshaping in-car UX and opening fresh revenue streams for OEMs and mobility providers.

Discover the Impact