General Motors and Magna International representatives refused to comment on the subject.
According to the aforementioned source, the US-based carmaker wants to build around 20,000 Chevrolet Camaro units per year, so a collaboration with an financially-challenged supplier could affect its operations.
This is not the first time when Magna International works together with General Motors, as the two companies are already collaborating on a number of products. Furthermore, Magna was last year involved in one of the biggest sagas of the year, when it was believed it would acquire Opel, GM's German division that was supposed to be sold to an outside investor.
However, GM decided after months of negotiations to keep Opel and start restructuring using its own resources - which is actually happening right now - so Magna walked away from the deal. Just after negotiations failed to reach an agreement, Magna emphasized that it will only concentrate on the supplying business and stay away from buying other ailing carmakers.
"We understand that the Board concluded that it was in GM's best interests to retain Opel, which plays an important role within GM's global organization. We will continue to support Opel and GM in the challenges ahead and wish to thank everyone who supported the Opel restructuring process for their tireless efforts and dedication over the past several months. In particular, we wish to thank our partner, Sberbank, for its significant contribution and support throughout this process," Siegfried Wolf, Magna's Co-Chief Executive Officer, stated in an official statement after the failed Opel talks.
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