With the takeover of ailing GM subsidiary by the Austrian-Canadian conglomerate Magna still not being finali, dark clouds are gathering over Germany. Volkswagen-owned Porsche is said to rethink its contracts with Magna for the production of its prestige Boxster model starting in 2010. And also BMW is expressing concerns over its relationships with Magna. As Ferdinand Piech, Chairmen of Volkswagen’s supervisory board put it: “We don’t like it when our suppliers turn into our competitors”. I told you so!
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