Despite the collapse of Magna's proposal to acquire a majority stake in Opel/Vauxhall, Magna is in talks with GM and Russia's GAZ Group over building a vehicle assembly plant in Russia, it is reported in Russia.

Russian business media cited Magna chairman Frank Stronach as source, though no further details were provided.

Magna continues to consider Russia a promising market and GM wants to show that it still holds an interest in Russia, Stronach said, as cited by business daily Vedomosti.

A spokesperson for GM confirmed to RBC Daily that talks about a new plant in Russia were being held, but declined to provide any details.

However, other sources contended that GM would not be interested in the project, as it already has assembly capacities in Russia, Kommersant business daily reported.

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