Law and Rights
Apparently rejected by DaimlerChrysler in its bid to acquire a chunk of ailing Chrysler, Magna is now woing AvtoVAZ, Russia's largest carmaker. The Russian company and Canadian auto parts maker Magna International agreed today to jointly develop and build a new budget car.
Reports are that the joint project will require about $2 billion and the new budget car is planned to sell at less than $12,000 but no news yet on where it'll be sold. Seems like the parts maker is bound and determined to get into the building business sooner rather than later. If they can't buy their way into Chrysler here, well, they plan on buying their way into the Russians over there. While some people aren't so sure about playing Russian roulette, apparently if you put enough money in front of the Russians, they forget how to say nyet, in favor of that famous line from Cabaret, "money, money, money, it makes the world go round."
The Russian car builder is already in a joint venture with General Motors and also said it hoped to partner up with French carmakers Renault and Peugeot-Citroen in the near future. I guess the moral is that the Russians will partner up with anyone as long as there's money in it. Looks like the Russians have jumped into the private enterprise party with both feet!
Earlier this month, Magna locked odwn a $1.54 billion investment from a company controlled by Russian billionaire Oleg Deripaska, who also happens to be an apparent pal of President Putin. Like we said before, billionaires and presidents tend to hang out together apparently.
Maybe the Russians really are coming? Hopefully not here . . .
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- What Did One Russian Say To The Other?
The Chevies are coming! The Chevies are coming! Guess what brand sells the most in Russia? That's right. Chevrolet. With sales figures that climbed 71%, Chevy overtook Ford and all others to become the biggest overseas brand in Russia, in spite of...
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Apparently parent company DaimlerChrysler AG (DC) is so anxious to dump Chrysler (CC) that it has agreed to pay the buyer $1.55 billion to take over the ailing American auto giant. Last week we thought the Russians were coming. Now, we find out it's...
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Law and Rights
Magna Tries Russia
Apparently rejected by DaimlerChrysler in its bid to acquire a chunk of ailing Chrysler, Magna is now woing AvtoVAZ, Russia's largest carmaker. The Russian company and Canadian auto parts maker Magna International agreed today to jointly develop and build a new budget car.
Reports are that the joint project will require about $2 billion and the new budget car is planned to sell at less than $12,000 but no news yet on where it'll be sold. Seems like the parts maker is bound and determined to get into the building business sooner rather than later. If they can't buy their way into Chrysler here, well, they plan on buying their way into the Russians over there. While some people aren't so sure about playing Russian roulette, apparently if you put enough money in front of the Russians, they forget how to say nyet, in favor of that famous line from Cabaret, "money, money, money, it makes the world go round."
The Russian car builder is already in a joint venture with General Motors and also said it hoped to partner up with French carmakers Renault and Peugeot-Citroen in the near future. I guess the moral is that the Russians will partner up with anyone as long as there's money in it. Looks like the Russians have jumped into the private enterprise party with both feet!
Earlier this month, Magna locked odwn a $1.54 billion investment from a company controlled by Russian billionaire Oleg Deripaska, who also happens to be an apparent pal of President Putin. Like we said before, billionaires and presidents tend to hang out together apparently.
Maybe the Russians really are coming? Hopefully not here . . .
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Helping Consumers, and Consumer Law Attorneys, Since 1978
UsLemonLawyers.com
Helping Consumers, and Consumer Law Attorneys, Since 1978
Subscribe in a reader- What Did One Russian Say To The Other?
The Chevies are coming! The Chevies are coming! Guess what brand sells the most in Russia? That's right. Chevrolet. With sales figures that climbed 71%, Chevy overtook Ford and all others to become the biggest overseas brand in Russia, in spite of...
- "we'll Pay You To Buy Chrysler"
Apparently parent company DaimlerChrysler AG (DC) is so anxious to dump Chrysler (CC) that it has agreed to pay the buyer $1.55 billion to take over the ailing American auto giant. Last week we thought the Russians were coming. Now, we find out it's...
- Bidding Starts For Chrysler
A few weeks ago we reported that GM was talking with DaimlerChrysler about buying the ailing Chrysler US operation. Turns out they were not only talking, they actually made a low ball bid. GM offered to take over Chrysler in exchange for a small amount...
- Unions Leary Of Chrysler Bidder
Unions aren't happy with rumors of big money moguls buying Chrysler from DaimlerChrysler AG and that just may foul up the investor group's plans, according to Reuster news reports. The unions' opposition comes just as Cerberus Capital Management...
- Is Gm Buying Chrysler ???
Hold on to your hats, folks... Automotive News is reporting that DaimlerChrysler may be negotiating with General Motors for GM to acquire Chrysler. That's a reversal of what DaimlerChrysler CEO Dieter Zetsche said just last fall. Is DaimlerChrysler...