Magna: It's our job to help customers balance between low cost and high quality

• Source: Gasgoo
• [08:23 August 07 2009]
• Comments

Gasgoo.com: As you know while the auto industry in other courtiers are severely hit by the financial crisis, the Chinese market is still growing very rapidly and sometimes is the only growing markets for some automakers. Do you think many global companies will increase R&D expenditures and boost their engineering capacities in China?

Peter Seidl: I think the trend is already here. I have been coming to China for almost 20 years and I also lived in Shanghai for two years. It was a slow start but over the last one or two years, quite a lot of companies have increased their engineering capacities here. Because there is a lot of engineering demand in this country due to the fact that in the past you were basically just getting technology from somebody and building it here but now you are in the process to build state-of-the-art products. Therefore you may not have all the know-how in the country and you will have to get whatever foreign companies to help you.