Canadian supplier Magna International wants to be an automaker in the worst way, or so it seems. Or does it really want to turn automakers into suppliers?
Two years ago, Magna pursued Chrysler before Cerberus Capital Management took control. The supplier also is reported to be interested in General Motors' Saturn. And in Europe, Magna is competing with Fiat to acquire control of GM's Opel.
Fiat and Magna appear to have vastly different ideas on how to operate Opel. Fiat wants to forge a new global auto empire that combines Fiat and Chrysler with Opel/Vauxhall, Saab and GM's Latin America unit.
But Magna's idea is to turn Opel into a company that builds cars for other automakers, a Magna insider told Automobilwoche. Another source told the newspaper that PSA/Peugeot-Citroen and Ford have expressed interest in building cars on Opel-Magna production lines.
Opel would provide critical components for various vehicle models, the source said.
That's a business Magna knows a lot about. Magna-Steyr, in Graz, Austria, is the continent's largest contract manufacturer, building vehicles for several automakers.