GM had spent about EUR700m on the plant, the source said.
Sberbank and Magna would also buy a 55% interest in Opel, according to an agreement announced last week.
Magna and Sberbank plan to buy all of GM’s assets in Russia and other countries in the Commonwealth of Independent States (CIS), business daily Vedomosti reported last week, citing a representative of Siegfried Wolf, Magna’s co-CEO.
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 Awardin 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.
