Thus, an information has been released from the depths of GM that the American company intends to sign a statement of intentions, which does not require any obligations with the Chinese car manufacturer company BAIC, and also with financial investor RHJ. There is no doubt that its goal is to increase the pressure on Magna in order to secure new assignments. For example, GM has started talking again about one desirable option, which is the possibility of buy-back of Opel, a variant that is accepted neither by Magna, nor by the German authorities. Those who are familiar with the situation at GM – Handelsblatt sources claim that the top leadership of the General Motors cherishes the hope that after the bankruptcy of GM it can restore its former strength, and may again purchase back Opel.

In his turn, the head of the Savings Bank (Magna partner in the transaction) German Gref said on Friday at a meeting of shareholders of the Bank that if General Motors made the new terms of the transaction of Opel acceptable for the Bank, then by the most optimistic scenario, the transaction may be concluded in September 2009. According to him, intensive consultations are currently undergoing with the shareholders fo the auto concern, and an agreement of purchase between Sberbank and the owners of Opel may be concluded in July this year. Meanwhile, Magna, according to the sources of the German media, said the purchase of Opel with the new requirements of GM would not be possible.

Absolute certainty that the transaction between Magna – Opel will take place, does not exist also in the Ministry of Economy of Germany. It is no coincidence that the head of the board of trustees for the trust management of Opel Fred Irwin pointed out in an interview with Handelsblatt that the statement of intent signed between Magna and General Motors is not legally binding and does not oblige to anything, and that new applicants for the purchase of Opel were welcome.

Thus, some extra time is needed in the tugging for Opel. The Chinese delegation from BAIC is continuing intensive study of financial records of the German carmaker in its headquarters in Ryusselshayme and active talks are taking place with the managers of Opel. What may spur them is that another Chinese company – Sichuan Tengzhong Heavy Industrial Machinery Co., may abandon the purchase of brand Hummer from General Motors because of the dissatisfaction of the regulatory authorities of China with the deal, because Beijing is pursuing a policy aimed at reducing energy consumption and manufacturing low-cost, economical cars.

Yet much says in favor of the fact that in the end the choice will be made all the same in favor of Magna, in fact negotiations with the Canadian-Austrian corporation are in a much more advanced stage compared to those with other competitors. Yes, and GM understands that, because of the difficult economic situation of Opel the time to negotiate of the Americans is not unlimited.

The point is that the German government interim loan that is given to Opel, which has millions of dollars in losses every day, will only last until the autumn, insiders believe. And the political apex of Germany is seeking to make a final decision on the Opel before 27 September, that is, before the German parliamentary elections.

American auto concern Ford, the only one of the Detroit three which was able to avoid bankruptcy, will still receive almost 6 billion U.S. dollars from the government. That, however, is not for the purpose of saving the company from bankruptcy: Ford will receive funding for the development of «green» technology. Analysts, however, note that any credit from the government will support the auto company during the crisis.

The money will be allocated by the Ministry of Energy in accordance with the Energy Bill, adopted back in 2007, by which auto concerns are required to increase the fuel efficiency of their cars by 40 per cent by 2016. For this purpose concessional loans of U.S. 25 billion dollars are allocated; in addition to Ford other auto companies of the United States will also receive government support – Nissan will receive U.S. $ 1.6 billion under the organization of the release of electric vehicles in the country. Tesla will receive a further U.S. $ 465 million for manufacturing electric sport cars. As for Ford, it will be provideded 5.9 billion U.S. dollars for the purpose of modernization of 11 of its plants in five states, that according to the company, will increase the efficiency of 2 million cars a year, as well as for developing its own electric cars.

Representatives of the American Ministry of Energy also said that they are conducting negotiations in order to provide loans from the Chrysler eco-funds, and they intend to begin negotiations with GM, when the company emerges from bankruptcy procedures.

The Government of Germany and the authorities of the German lands, where the main businesses of Opel are located, approved the investment plan of Canadian-Russian consortium.
Magna and Sberbank claim for a controlling stake of Adam Opel GmbH, which combines Opel and its sister brand Vauxhall. Under the plan of Magna, General Motors will retain a share of 35% in the Opel, another 35% will have Sberbank, 20% – Magna, and the remaining 10% will be owned by Opel employees.
Capital infusions of new investors in Opel should make about 500-700 million euro. The industrial partner for Opel, as planned, will become “GAS” group. Canadian Magna International expects to complete the transaction for the purchase of Opel by September 2009.

It should be recalled that the German authorities approved the provision for the European Branch of the American auto concern General Motors – General Motors Europe bridge loan of 1.5 billion euros on 1 July this year.
With that German automaker Opel and British Vauxhall will continue to operate regardless of the bankruptcy of the American parent company. In the next five years, Opel plans to increase itsannual sales volume of cars up to 2 million units.