May 30, 2009

Opel, a Russian/Canadian brand ?

Yes, GM sold 55% of Opel today to the Canadian auto-maker magna international & Russian state controlled bank Sberbank 20% and 35% respectively while keeping 35 % of Opel stacks, giving 10% to its employees giving Russian/Canadian consortium a majority.

That deal is great news for Russia, owning a top car brand as well as boosting its car manufacturing ability through car maker Gaz which will produce Opels for the Russian & Eastern Europe markets.

I wonder if russian built opels will be cheaper since russian workers are surely paid less than german ones.

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