Magna International co-chief executive officer Don Walker has reassured Japanese clients the planned investment in Adam Opel would not lead to a transfer of leading-edge technology.
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Walker told Kyodo News during a short visit to Japan funding issues over Opel would be finalised in the next few weeks and the deal was likely to close in the next several months.
”We will have a complete separation of activities between Magna, parts company, and our investment in Opel,” Walker said at a press conference in Tokyo.
”I suspect it would be business as usual whether we make the investment in Opel or we don’t,” he added.
Major automakers supplied by Magna, particularly Volkswagen, have raised concerns about the possibility of leaks of technology once their key parts maker has capital ties with a competing car maker.
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By GlobalDataMagna supplies five major Japanese automakers but said most were feeling ”comfortable” about the deal after talks.
Magna’s president of Asia and executive vice president of business development, James Tobin, said at the same press conference that the supplier would work closely with Japanese customers to expand their foothold in markets such as China and Russia and expand its production in key markets in response to client needs.
Walker said Magna would seek active partnerships with companies possessing next-generation technology in components for petrol-electric hybrids and electric vehicles such as battery packs and electric motors, an area in which Japanese automakers excel.
”We are very interested and open to talking to people that have technology that want to partner with us,” he added.
