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    From ‘eyes-off’ hype to ‘hands-free’ reality: Premium OEMs bet big on L2+
    While automakers from China to North America have publicly confirmed their intentions to pursue Level 3, others most notably the early adopter German premiums are subtly easing off their Level 3 ambitions as their latest Level 2+ systems come to market. BMW, Mercedes‑Benz and Stellantis all went to market with highly publicized Level 3 plans, and both German automakers have Level 3 systems in market today in very limited availability. But each has discovered that the combination of high cos...
    Insights
    BEV-native leadership and established OEM transition in SDV readiness
    The recent adoption by many original equipment manufacturers (OEMs) of an electrical/electronic (E/E) architecture based on zone controllers supporting a software-defined vehicle (SDV) is slowly replacing distributed electronic control architectures that rely on small pieces of control code housed and distributed widely inside isolated electronic control units (ECUs). This new approach centralizes the hardware processing and memory in fewer, more powerful control units that will house functional...
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    Volkswagen (VW) Group to halt production at GAZ plant for one week in Russia
    The GAZ Group is stopping production of the Skoda Yeti and other Volkswagen (VW) Group models it manufactures at its plant at Nizhniy Novgorod for almost a week between 3 and 10 November, according to an Itar-TASS news agency report. A spokesperson said, "The production at the site of the GAZ car plant where the contract assembly of Volkswagen and Skoda models is carried out, will be suspended for 6 days", adding that the workers of the assembly sector are idle on 2-3, 5-6, and 9-10 November. Th...
    News
    GAZ Group begins stamping parts for Mercedes Sprinter
    Russian automaker GAZ Group has begun producing stamped body parts for the Mercedes Sprinter van, reports Prime News. The parts are being manufactured at its Gorky Automobile Plant in Russia, and are then sent to the company's Nizhniy Novgorod (Russia) plant, which is responsible for local production of the vehicle. Separately, the GAZ Group has expressed interest in setting up a new production base in Egypt. Pavel Sereda, the head of the automaker's light commercial vehicle (LCV) division was q...
    News
    WABCO showcases MAXX™ air disc brakes, ESCsmart™ technology for commercial vehicles at Comtrans 2015
    WABCO will showcase numerous leading safety technologies from its portfolio of "industry firsts" at Comtrans 2015 to be held in from 8-12 September in Moscow, Russia, said a company press release yesterday (27 August). The company will showcase the following products: MAXX™ air disc brakes (ADB): a single-piston ADB for commercial vehicles. It fits any wheel size from 17.5 to 22.5 inches across light-, medium- and heavy-duty applications for trucks, buses and trailers. "We are del...
    News
    GAZ Group looks at new production locations
    The GAZ Group is looking at a number of overseas destinations as potential new production locations, according to CEO Oleg Deripaska. It is looking at potential assembly locations in Lithuania, Cuba and Venezuela which would increase the firm's global production presence and give GAZ access to new markets. Deripaska did not give any details on the plans, although the firm's press department later commented that the Venezuela was the least likely destination of the three to see investment in the ...
    News
    GAZ in talks with Chinese OEMs to fill production gap left by GM's withdrawal
    The GAZ Group has been in talks with a number of OEMs, including some Chinese manufacturers, in order to make up for the shortfall in capacity that will be left by General Motors' (GM) decision to withdraw from the Russian market, according to a Moscow Times report. GAZ's chairman Siegfried Wolf said the company would continue negotiations with a number of the companies in question in an effort to fill excess capacity left untapped by GM's exit from Russia. He said, "We have about six or seven v...
    News
    Mercedes-Benz vans to remain committed to Russian market
    Mercedes-Benz vans has said it remain committed to the Russian market despite the extremely difficult current environment. The company's head of quality that oversees the GAZ group's production of the Mercedes-Benz Sprinter at Nizhny Novgorod Mario Wildgrube said, "The market is there - at the moment everybody is waiting a bit... It does not make sense to go in and out. If you have a foot in the door, you should not remove it that fast. Let's call it a kind of investment, but of course we want t...
    News
    Russia-Vietnam FTA likely to cover automotive industry
    The free-trade agreement (FTA) between Russia and Vietnam is likely to include the automotive industry and could offer tariff relaxation for vehicles and automotive components. According to a report by the Vietnam News Agency, Russian prime minister Dmitry Medvedev advocated expanding bilateral co-operation in the FTA, which currently covers oil and gas, and energy, during his three-day visit to Vietnam this week. He reportedly held talks with Vietnamese deputy prime minister Hoang Trung Hai reg...
    News
    Daimler in advanced talks over establishing manufacturing plant in Russia
    The president of the Russian state investment agency Yury Spiridonov has stated that Daimler is in advanced negotiations over establishing a manufacturing site in Russia, according to an Itar-TASS news agency report. Daimler is reportedly looking at three sites to establish a plant to manufacture Mercedes-Benz passenger cars. Spirido said, "The negotiations continue. Moreover, I should say their representatives are constantly present in the city of St. Petersburg. They are considering three regi...
    News
    Daimler applies to build factory in Russia – report
    Daimler has applied to Saint Petersburg for permission to build its first car assembly plant in Russia, according to an Interfax news agency report. Saint Petersburg vice-governor Mikhail Mokretsov has assigned a municipal investment committee to handle Daimler's bid and said that the committee was already looking at potential sites for the factory, says the report. However, Daimler itself denied that any decisions had been made about production investment in Russia, despite the project havi...
    News
    Daimler and GAZ begin Sprinter "Classic" crew cab production in Russia
    Mercedes-Benz RUS, a subsidiary of the German automaker Daimler, together with local automaker GAZ Group has begun production of a crew cab version of the Sprinter Classic in Russia late last week, reports local news publication RIA Oreanda. The cargo version of the model is produced at GAZ Group's Nizhny Novgorod, Russia, plant. The model is offered with a gross domestic weight of 3.5 tonnes and in medium and long wheelbases. The passenger compartment is equipped with sound and thermal insulati...
    News
    Scania and GAZ extend bus manufacturing co-operation
    Russian commercial vehicle manufacturer GAZ Group and Scania have further cemented their bus manufacturing partnership, according to an Itar-TASS news agency report. The two companies will expand co-operation in bus manufacturing and promotion on the domestic and foreign markets, a spokesperson for the group said on Monday. Significance: The two firms first signed a bus contract manufacturing alliance in 2005 when GAZ began manufacturing Cruise tourist buses for the Russian market on Scania ...
    News
    Total AvtoVAZ job cuts to increase to 13,000
    AvtoVAZ has indicated it will make further job cuts, taking the total planned reduction of the company's headcount to 13,000. This means that the company has added a further 5,500 to the originally announced 7,500 cuts that the firm outlined in January 2014 following the appointment of new CEO and former GAZ Group chairman Bo Andersson. On joining the firm at the end of last year, the Swedish executive said that AvtoVAZ needed a collective wake-up call in view of falling sales, huge overstaffing...
    News
    GAZ to produce LCVs in Turkey
    Leading Russian light commercial vehicle (LCV) manufacturer GAZ plans to produce its GAZelle NEXT LCV in Turkey, reports Itar-Tass, citing Manfred Eibeck, the CEO of GAZ's parent, Russian Machines. Euro-V-compliant GAZelle NEXT LCVs will be produced and distributed in partnership with Turkish car manufacturer and distributor Mersa Otomotiv, according to Eibeck, who did not specify a timeframe. The GAZ group confirmed to Itar-Tass that it had proved compliance with 43 security requirements and ob...
    News
    Russian Machines and Norinco sign MoU for vehicle production
    Russian Machines Corporation and China North Industries Corp (NORINCO) have signed a memorandum of understanding (MoU) in the presence of the Vladimir Putin, President of Russia, and Xi Jinping, Premier of China on 26 May. Under the agreement, the two companies will strengthen alliance in production of cars and trucks. In the truck segment, the two companies will create an Ural truck line using the plant in Miass in the Chelyabinsk region in Russia. The line will use the existing Beiben line of ...
    News
    GAZ Group begins production of new EvoTech 2.7-litre gasoline engine
    The GAZ Group has begun production of a new gasoline (petrol) powertrain that will power the company's Gazelle Business and Gazelle Next range of light commercial vehicles (LCVs), according to a Skrin newswire report. The new powertrain is referred to as the EvoTech 2.7 and it complies with Euro-IV and Euro-V emissions standards. The new powertrain is a joint development project between the GAZ Group and South Korean powertrain engineering company Tenergy. Significance: The new powertrain ha...
    News
    Daimler considering car production in Russia
    Daimler is looking at a possible investment in passenger car production in Russia, according to a company statement. Daimler admitted that it is actively considering its production options in the Russian market in the statement which said, "We have been looking at the basic parameters and potential of local production of passenger cars in Russia and have held various discussions." Daimler also said that no decision was imminent and that it would not disclose a timeframe on making a decision on R...
    News
    GAZ to begin plant modernisation in January – report
    GAZ Group will begin investment to modernise its Nizhniy Novgorod (Russia) site next month, reports SKRIN Newswire. The changes will support the introduction of new models and additions to its Gazelle Next range of light commercial vehicles (LCVs). These will include the fitment of new paintshop robots sourced from French company Sames, as well as alterations to improve corrosion resistance and an increase in the number of colours on offer. New welding robots will also be installed on the cabin ...
    News
    Volkswagen (VW) to invest EUR1.2 bil. in Russia by 2018
    The Volkswagen (VW) Group will invest EUR1.2 billion (USD1.62 billion) in its Russian operations between now and 2018 as it hopes to reinvigorate the growth it has previously experienced in the market, according to a Dow Jones Institutional news report. The company has already invested a total of EUR1.3 billion in the Russian market between 2006 and 2013 and the company is set to actually increase its investment level on an annual basis over the next five years. Earlier this week VW announced it...
    News
    WABCO’s net income up 3.2% y/y to USD80m in Q3 2013
    WABCO has reported a 3.2% year-on-year (y/y) increase in its net income to USD80m in the third quarter ended 30 September 2013 compared with USD77.5m in the corresponding period of the previous year, says the company’s press release. Operating income totalled USD86.9m, up 18.7% y/y from USD73.2m. The company recorded higher profits as its sales during the quarter improved 15.1% y/y to USD677.1 from USD588.3 reported in Q3 2012. During the first nine months of 2013, WABCO sales increased 6....
    News
    WABCO to supply advanced braking systems to GAZ
    WABCO has entered into a new multi-year supply agreement with Russia’s GAZ Group, the company said in a press release. Under the agreement, WABCO will be exclusive supplier of advanced braking systems and components to GAZ’s next-generation of medium-duty trucks. The Russian commercial vehicle manufacturer expects to commence production these trucks in 2014. GAZ’s next generation of medium-duty vehicle will feature pneumatic braking systems. Earlier these vehicles used to feature hydra...
    News
    GAZ Group begins Mercedes Sprinter Classic series production at Nizhny Novgorod
    Mercedes-Benz began full series production of the Sprinter Classic at the GAZ Group's plant at Nizhny Novgorod yesterday (15 July), according to a company press release. It began trial production of the light commercial vehicle (LCV) last month and has now started manufacturing vehicles for sale in the Russian market. Mercedes-Benz Vans and GAZ signed a deal to manufacture vans together at Nizhny Novgorod in 2012. Daimler is investing more than EUR100 million in the product's modification, ...
    News
    Mercedes-Benz begins production of new Sprinter LCV
    Mercedes-Benz has announced that it has begun production of the latest iteration of its successful Sprinter van series, according to a company press release. The company has invested EUR25 million in preparing its two main German LCV production locations at Düsseldorf and Ludwigsfelde for the new model. The new Sprinter features five new safety and assistance systems, three of which are new to any LCV on the market. Mercedes-Benz also claims that the new Sprinter is the first van in its class t...
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    Skoda begins production of new Octavia at GAZ Group's plant
    The Volkswagen (VW) Group has announced that it has begun production of the new third-generation Skoda Octavia at the GAZ Group plant in Nizhniy Novgorod, Russia. According to a company press release, starting production in Russia should bring a significant uplift in sales there in the coming months. Skoda CEO Winfried Vahland said, "We are aiming for strong growth in Russia in the years ahead, and the start of production of the new Octavia is a very important step in this direction." He added, ...
    News
    Westport to develop natural gas systems for GAZ’s CNG commercial vehicles
    Westport has signed a multi-year agreement with Russian automaker GAZ Group to develop spark ignited natural gas systems for a new range of the latter’s compressed natural gas (CNG) commercial vehicles, says the press release by Westport. Westport's new WP580 Engine Management System will be equipped in GAZ's YaMZ-530 4.4L and 6.6L diesel engines. The company will begin the commercial production in 2014.   Significance: Westport says that the WP580 engine management system has be...
    News
    Volkswagen planning to cut Russian production for 2013 – report
    Volkswagen (VW) is looking to lower production at its Russian production facility in Kaluga this year, according to a report in the Vedomosti newspaper. The company is planning to lower production output at the facility to 150,000 units in 2013, down from 175,000 units in 2012, a decline of 14% year-on-year (y/y) according to the report, which cited information from the chairman of the regional chapter of the Interregional Trade Union of Autoworkers (MPRA), Dmitry Trudovoi. However, another sour...
    News
    General Motors (GM) increases localisation at St Petersburg
    General Motors (GM) is about to engage in a major programme to increase the localisation of the vehicles it manufactures in Russia, according to a report by the Interfax news agency. The company is looking to localise 25 suppliers of components which will serve its manufacturing facility in Shushary, St Petersburg. According to the article, the localisation drive will increase local content to the region of 60% of the vehicles that the plant manufactures.   Significance: The drive to ...
    News
    General Motors (GM) begins Aveo production in Russia with GAZ Group
    General Motors and GAZ Group, a part of Basic Element, one of the Russia’s largest diversified industrial groups, today commenced production of the Chevrolet Aveo sedan at GAZ’s manufacturing facility in Nizhny Novgorod, Russia. GM and GAZ Group signed an agreement in February 2011 to produce the Aveo at GAZ for sale in the Russian market. The companies invested USD29 million to prepare the existing GAZ passenger car production facility for the Aveo project. The Aveo is being assembled o...
    News
    Russian passenger car production rises 13.3% in 2012 to 2 mil. units
    Passenger car production in Russia increased at the accelerated rate of 13.3% year-on-year (y/y) in 2012 to two million units in, according to data compiled by the government statistics agency RosStat and reported by Skrin Newswire. According to the report, the increase in overall passenger car production was achieved despite the country's biggest producer AvtoVAZ experiencing a decline in volumes as a result of increasing competition from foreign OEMs in its domestic market. For the full year, ...
    News
    GAZ to begin SKD production in Turkey by year-end
      GAZ Group and its joint venture (JV) partner Mersa Otomotiv have announced they have started assembling semi-knocked down (SKD) light commercial vehicle (LCV) kits in Turkey, reports Itar-TASS World Service. The project, which has seen Mersa invest EUR15 million (USD19.5 million) in the business, will focus on GAZ's GAZelle Business and Sobol Business models. The pair intend to assemble 300 vehicles by the end of 2012, followed by 2,500 units in 2013 and 3,700 units during 2014, accor...
    News
    WABCO’s net income slips 7.5% y/y to USD77.5m in Q3 2012
    WABCO’s net income, in the third quarter (Q3) ended 30 September 2012, declined by 7.5% year-on-year (y/y) to USD77.5m from USD83.8m, according to the company’s press release. The decline in net income was primarily on a 16.7% y/y fall in the company’s net sales from USD706.3m to USD588.3m. The company’s operating income also fell 20.8% y/y to USD73.2m over USD92.4m in Q3 2011. The company blamed deteriorating global business environment for its less-than-expected performance during ...
    News
    Dongfeng to begin assembling light trucks at Zil in 2013
    Dongfeng will assemble the vehicles which will be light-duty trucks from semi-knocked down kits, with production beginning in 2013. The initial production output for the project will be 2,000 units. Significance: Dongfeng may find a market for its low-cost light truck but the likely volumes and market share will be small, as confirmed by the limited initial production run. China's Foton imported 520 trucks in the January–August period, Beijing Automotive imported 197 trucks, and South Kor...
    News
    WABCO to supply ABS, tyre pressure-monitoring system to GAZ
    WABCO has signed a contract with GAZ Group to supply anti-lock braking systems (ABS) for heavy-duty Ural trucks and buses, according to the company’s press release. The company will also supply IVTM, an integrated system for electronic tyre pressure-monitoring systems for low-floor LIAZ buses. These buses will be used in Moscow’s public bus fleet. The IVTM system provides real-time information to drivers and helps to maintain optimal tyre pressure. The system extends tyre life up to 20% a...
    News
    Volkswagen to boost production at Kaluga plant to 225,000 units
    Volkswagen will expand production at its main production facility in Russia to 225,000 units over the next few years, according to the CEO of Volkswagen Russia, Markus Ozegovich. His comments were reported in a Skrin newswire report in which he said, "Totally Volkswagen Group Rus is going to increase production volumes in Russia to 350,000 cars per year. It will mean an increase in production for the plant in Kaluga to 225,000 cars per year in the nearest several years." Significance: The re...
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    Bosal-GAZ emission control systems JV starts operations in Russia
    Bosal-GAZ has begun serial production at their emission control systems joint-venture (JV) at Gorky Automobile plant facilities, according to a 27 June press release by Bosal. The companies are said to have invested RUB160m (USD4.8m) at the manufacturing unit that has a production capacity of 300,000 systems per year. The equipment layout at the manufacturing facility, which includes pipe-bending, catalytic converter canning and welding, has been kept in a way that produces components in one-pie...
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    MAN Truck & Bus gets engine supply contract from Russian LIAZ
    MAN Truck & Bus has won a major bus engines supply contract from Russia-based LIAZ, a subsidiary of the GAZ Group. Though the exact amount of the contract is not disclosed, an official press release of MAN says that the ‘order is valued in the high double-digit million euros’. The contract includes delivery of 2,188 units, out of which MAN has already supplied approximately half. The order includes various types of engines; including diesel (MAN D0836 LOH) and compressed natural gas...
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    Latest Investments
      Company Region Area of operation Comment Johnson Controls Mexico Battery 01 September 2011 Johnson Controls Inc (JCI) will invest more than USD70m in its automotive battery recycling centre in Cienega de Flores, Nuevo Leon (Mexico). The company will replace the facility’s rotary furnaces with bigger, more efficient rotary furnaces and add environmental control technologies. Through this investment the company aims to increase its recycling capacity in No...
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    Volkswagen to decide on site for new Russian powertrain plant
    The Volkswagen Group is planning to decide on a location for a powertrain manufacturing in Russia as early as 2012, according to a report by the Interfax news agency. Volkswagen currently imports powertrains into the country from the Gyõr manufacturing plant in Hungary, which is supplying the company's existing car assembly plant in Kaluga (south-east of Moscow). This will initially also be the powertrain supply channel for the new joint-venture (JV) assembly contract that Volkswagen has struck...
    News
    14th Annual Automotive News Europe Congress
    Last week’s Automotive News Congress in Cologne provided yet again a great opportunity for the great and good of the industry to meet. One of the highlights was Bo Andersson providing an insightful and entertaining presentation, as usual, analysing the challenges of the Russian marketplace from the perspective of his position of CEO of the GaZ Group. He commented that the market there is currently under-developed, representing only 7% of worldwide production, and with only 3% of Russia’s GDP...
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    Latest joint-ventures
    Company JV Partner (s) Location Comment Autoliv Hella Automotive 20 April 2011- Autoliv announced plans to acquire technologies for automotive forward-looking vision systems from Hella Aglaia Mobile Vision GmbH, a subsidiary of Hella KGaA Hueck & Co., says a company release. Autoliv is acquiring an exclusive license to Hella Aglaia's monovision based algorithms for traffic sign recognition (TSR), lane detection and light source recognition. The two companies will also collaborate to...
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    GAZ and FinnvedenBulten to establish fasteners manufacturing JV in Russia
    GAZ Group has reached an agreement with Swedish manufacturer FinnvedenBulten to form a joint-venture in the Nizhny Novgorod Region of Russia. The facility will be located at GAZ’s Gorky Automobile plant and will manufacture fasteners for Russia and other CIS countries. Both the companies are evaluating the scope of the JV and plan to begin production in 2012. Significance: The JV will be established with the integration of GAZ’s Automotive Components Division, Gorkovsky Automobile Plant an...
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    GAZ and Bosal to establish exhaust manufacturing JV in Russia
    GAZ Group has signed a joint-venture (JV) agreement with Bosal Group for production of exhaust systems at GAZ's facility in Gorkovsky (Russia), according to a company press release. The JV plans to have an initial production capacity of around 350,000 units per annum (upa). The exhaust systems would be sold in both the original equipment market as well as on the aftermarket in Russia. GAZ Group president Bo Andersson said, "Cooperation with Bosal will make it possible to upgrade manufacturing ca...
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    The Russian Automotive Industry: A case of delayed but sure recovery
    After witnessing one of the sharpest declines in 2009, the automotive industry in Russia is finally returning to growth. In the first nine months of the 2010, sales of passenger cars and light commercial vehicles (LCVs) in the country have registered an 18% increase to 1.32 million units over the 1.15 million units during same period a year ago. Although the automotive market in Russia has been late in recovery compared with those in many other countries, the worst seems to be over and it looks ...
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    General Motors' (GM) IPO: Is Magna targeting a big stake in the new GM?
    On the eve of General Motors' long awaited initial public offering rumors are circulating about the prospect of major suppliers taking important, influence-wielding stakes in the U.S. automaker. Most of the speculation surrounds North America's largest supplier, Magna International. Talk of Magna's interest hardly comes as a surprise. Three years ago the huge Canadian supplier made a concerted effort to gain control of Chrysler and last year it seemed to have General Motors' European operati...
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    Magna’s Co-CEO Siegfried Wolf resigns
    Magna has announced the resignation of its Co-Chief Executive Officer Siegfried Wolf, effective 15 November 2010. He is joining Basic Element and its machinery division OJSC Russian Machines, parent company of GAZ Group. Siegfried has helped Magna in establishing a strong presence in Europe. Commenting on the resignation, Frank Stronach, Magna's Chairman, stated that the company may recognise potential benefits from this opportunity. Magna would be able to strengthen its relationship with Basic...
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    Severstal halts steel supply to AvtoVAZ
    AvtoVAZ has reported that Russia’s largest steelmaker Severstal has stopped the shipments of steel products to the OEM’s plant after a disagreement over price. According to AvtoVAZ, the company had agreed to 20% price hikes in the month of June. However, Severstal and MMK, which supply 40% of steel needs of AvtoVAZ, wanted the price increase of 25% from 1 June 2010 and maintain that level till the end of the year. Several big carmakers in Russia received letters from steelmakers this ...
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    Avtodiesel secures loan worth RUB8.5bn from Vnesheconombank
    Russian engine producer Avtodiesel, a unit of GAZ Group, has borrowed RUB8.5bn (US$282.9m, 18 February 2010) from Russia’s state-owned bank Vnesheconombank (VEB) to develop a new YaMZ engine model. Avtodiesel has been trying to secure loan from the bank since several months. However, Russia’s state-owned industrial conglomerate Rostekhnologii restrained the company from taking the loan in December last year. Rostekhnologii, which holds a 30.99% in Avtodiesel, was against a clause in the lo...
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    Magna plans to shift van production from GM to GAZ Group
    Problems in the Opel-Magna deal appear to be endless. On 2 October 2009, British union accused Magna of planning to move its van production from GM’s plant in Luton (UK) to Gaz Group in Russia. The plant in Luton employs 1,400 people and is GMs only plant in Europe that produces commercial vehicles. According to Tony Woodley, joint general secretary of Unite, Magna announced that the Luton plant, which produces van under a joint-venture (JV) with Renault, could end up production after 2013 w...
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    Magna to help GAZ group with new models
    Russia based GAZ group is reportedly planning to produce new models of Volga Siber with Magna International. The car maker is reported to be mulling over whether to introduce new models of the last generation Chrysler Sebring and Dodge Stratus product line. GAZ group bought the tooling from Chrysler last yearand started producing the vehicles in July 2008. Magna assisted the GAZ group in setting up the plant and related operations. Magna was the natural choice for GAZ as it is assembling some m...
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    Magna to begin construction of Russia plant
    Magna International to start building a components plant in St. Petersburg (Russia) in early 2009. The plant is expected to come online by mid-2010 and will be constructed in the St. Petersburg 's Shushary industrial area with a total investment of over US$50m.  Russian oligarch Oleg Deripaska, owns 42% of a holding company that controls Magna. Earlier this year, Magna provided the manufacturing expertise for Derpaska's GAZ Group when it started production of its previous-generation Dodge ...
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    Latest Mergers and Acquisitions
    Acquirer Acquired business Sector Comment Ashok Minda Group Schenk Plastic Solutions Plastic parts 04 September 2008 - Ashok Minda Group acquired the business of Germany based interior plastic component supplier, Schenk Plastic Solutions. The supplier has been renamed Minda Schenk Plastic Solutions GmbH. The companies have not disclosed financial details, except that the all cash transaction is being funded 60% by loans, while the rest will be provided by internal accruals. A...
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    Magna acquires Technoplast
    North America’s largest auto-parts maker Magna International Inc has acquired Russian parts maker Technoplast.                        Technoplast, headquartered in Nizhny Novgorod (Russia) produces plastic interiors and exteriors parts. Sales in 2007 were reported as €29m (US$45m). Technoplast has existing supply contracts with GAZ Group, the largest Russian maker of commerc...
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    North American woes hit Magna
    Magna International last year passed perennial No. 1 Delphi Corp. to become the largest supplier in North America, based on 2007 sales. But that milestone aside, the Canadian giant is feeling the ill effects of the severe downturn in sales in the United States – perhaps more so than it has in past times when US sales have been strong. Magna, which ranks fourth among global suppliers, has seen higher sales in Europe and other regions offset, in part, by reductions in North America. The co...
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    GM may partner GAZ in an Italian diesel venture
    Bloomberg quotes that General Motors (GM) may tie-up in an Italian diesel venture with the Russian auto company – GAZ. The latter is in talks to acquire 50% of VM Motori SpA, which is currently held by Penske Corporation. But the talks are exploratory at this stage.        The partnership between OAO GAZ, a unit of Russian Machines, and GM would boost the revenues of the latter in the Russian automotive market and provide access to western technology to the...
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    Magna mulls aluminium castings JV with GAZ group
    Russia's GAZ Group and Magna are in talks about establishing a joint-venture to produce aluminium automotive castings. GAZ Group and Magna already have an auto component joint-venture. Magna also has agreements with AvtoVAZ in Russia to help it with product engineering, vehicle assembly and supply chain for the vehicles. GAZ group is owned by Russian Machines, a wholly owned subsidiary of Basic Element Limited. In July 2007, Russian Machines made a strategic investment in Magna by acquiring 40...
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    Magna willing to invest in AvtoVAZ
    Magna is keen on investing in Russia's leading car maker- AvtoVAZ and may buy a stake in AvtoVAZ.In November 2006, Magna signed an agreement with AvtoVAZ to build C-segment vehicles under the Lada brand.The deal also included setting up an assembly facility in Togliatti (Russia) with an annual production capacity of 45,000 cars. Magna however abandoned the construction of the assembly facility in October 2007, terming it not economically viable. The joint project related to the development of C ...
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    Magna to set up facility in Russia
    Magna International will set up a car facility in Russia. The project will be completely handled by Magna and will be different from the company’s collaboration with the GAZ Group.Magna has signed a preliminary agreement with the Russian Ministry of Economic Development and Trade to set up a US$500m worth facility in the country. The facility will manufacture Chrysler vehicles. Its initial production capacity will be 150,000 vehicles per year.Magna is also working closely with GAZ on a new mod...
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    GAZ Group commences engines production under Renault license
    GAZ Group, a Russian OEM, has launched the production of engines under Renault Trucks license at its facility located in Yaroslavl (Russia). By virtue of this strategic move, the company expects the engine production level to reach up to 500 units, 8,500 units, and 20,000 units by the end of 2007, 2008, and 2009 respectively. Furthermore, the firm proposes to supply these license engines to its traditional partners. GAZ is also planning to upgrade its Ural trucks with new diesel engines.GAZ acqu...
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    Magna divests one- fifth stake to Russian Machines
    Magna International has divested one-fifth of its stake to Russian Machines. Under the arrangement, 20m Magna Class A shares have been acquired by M Unicar (Newco), through its indirectly owned subsidiary 2143455 Ontario, for approximately US $1.54bn. The 2143455 Ontario is a Canadian holding company funded by a subsidiary of Russian Machines.Newco is indirectly owned by Stronach Trust and Russian Machines. Newco and its subsidiaries will now hold 726,829 class B shares and 20,605,000 class A su...
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    Russia's Gaz Group signs contracts with Ricardo
    Gaz Groups has signed an agreement with Ricardo UK Ltd. Ricardo will develop the YaMZ-650.10 diesel engine to make it compatible with Euro 4. The engine currently made in Yaroslavl (Russia) under a Renault Trucks license meets Euro 3 standards. GAZ Group subsidiary- Avtodiesel Engine Works will collaborate with Ricardo in the up gradation of the diesel engine.The Gaz Group also signed an agreement in May 2007 with AVL List GmbH, making the latter a subcontractor in the development of the medium-...
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    GAZ to invest US$442.8m in diesel engine production
    Gaz Group will invest 11.5RUB (US$442.8m) into its diesel engine production facilities in the city of Yaroslavl in 2007-09.GAZ will use 1.87RUB (US$72.02m) of the total investment for the development of the YaMZ-530 engines jointly with AVL List GmBh of Austria. The investments are stipulated by a protocol signed between the GAZ Group and the Yaroslavl city government at the St. Petersburg Economic Forum. GAZ Group’s assets in the Yaroslavl region include diesel engine producer- Avtodiesel, kn...
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    Magna plans to set up a plant in Russia
    Magna International plans to establish a manufacturing plant in Russia. The plant will be located in the Kaluga region and will manufacture auto parts for Volkswagen, which is setting up a car assembly plant in Russia. It will have an annual production capacity of 150,000 - 200,000 components kits.The company is in talks with Economic Development and Trade Ministry of Russia. The construction for plant may start this year and is expected to be completed in the next three years.Magna Internationa...
    News
    Magna and GAZ sign preliminary deal
    Magna and GAZ Group have signed the memorandum of strategic cooperation for the manufacture and assembly of automotive components in Moscow (Russia). GAZ Group’s basic stake holder OJSC Russian Machines set up RM Systems to enable modern components business in Russia, and this deal is seen as a step towards that. RM Systems will make automotive units and separate accessories. The company is a 100% unit of Russian Machines and is completely independent from the Group GAZ. It will supply mostly ...
    News
    Magna confirms JV with GAZ
    Magna International has confirmed that it will enter into joint venture with GAZ Group, and cooperation agreement with AvtoVAZ. The joint venture with GAZ will make components in Russia and help in adapting Chrysler cars for the Russian market. Magna has also entered a deal to set up a facility in Nizhny Novgorod to make large plastic components for the Chrysler Sebring and Dodge Status models, as well as other vehicles. GAZ will ramp up one of its facilities to make metal car components. The jo...
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    Management Changes in July 2006
    Gibbs Die Casting has appointed Kenneth W. Sparks as President and CEO of the company. Sparks will be responsible for all manufacturing operations at Gibbs including its six plants. In addition, functions including sales, engineering, manufacturing, finance, quality, human resources and purchasing have been put under his supervision. Denso Corporation announced senior management changes with immediate effect. New directors appointed to the board are Shinro Iwatsuki, Executive Vice President (fr...
    Insights
    GAZ Group names Deputy CEO of Finances and Economics
    GAZ Group has appointed David Lawrence Eggers as Deputy CEO of Finances and Economics division.A former Financial Director of Ford Russia, Eggers has over a decade’s experience in the automotive industry. Eggers began his career in Russia.  
    News
    GAZ looking to buy SEP from DaimlerChrysler
    GAZ Group is in negotiations to buy the Mexican Saltillo engine facility of DaimlerChrysler, which is worth around US$300m to US$350m, the Russian daily Kommersant reported. The company declined to comment about the acquisition and dismissed them as rumours.According to the Kommersant, GAZ is looking to buy SEP production facilities, which it plans to dismantle and move to Russia. Details of the deal are expected to come out in April 2006.SEP produces engines of 2-litre/2.4-litre/5.7-litre ...
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