General Motors (GM) said its board of directors has approved the company’s plans to invest €4 billion, or about $5.2 billion in Opel through 2016.
Under its 10-year plan DRIVE!2022, Opel intends to return to profitability by the middle of the decade.
“As a global automotive company GM needs a strong presence in Europe – in terms of design and development as well as manufacturing and sales,” GM Chairman and CEO Dan Akerson said at a press briefing. “Opel is a key to our success and enjoys its parent company’s full support.”
Through 2016, Opel will introduce 23 new models and 13 new powertrains.
Dr. Karl-Thomas Neumann, CEO of Adam Opel AG, said the “board has once again made very clear that our 10-year plan DRIVE!2022 that foresees our return to profitability by the middle of the decade, has our parent company’s complete support.”
