10 April 2013

GM to invest €4 billion in Germany and Europe through 2016

Rüsselsheim – 10 April 2013 - The General Motors (GM) Board of Directors used its meeting in Rüsselsheim to underscore its commitment to Opel and Germany. This commitment was also manifested in the approval of a comprehensive investment program: GM will invest 4 billion euros in Germany and Europe through 2016. A large part of the investments are going into the Opel model offensive. Through 2016, Opel will introduce 23 new models and 13 new powertrains.

As a global automotive company GM needs a strong presence in Europe – in terms of design and development as well as manufacturing and sales,” said Dan Akerson, Chairman and CEO of GM, at a press briefing at Adam Opel Haus. “Opel is a key to our success and enjoys its parent company’s full support.” 

The Board of Directors chose Germany for a regularly scheduled meeting to get first-hand information on the progress on its 10-year strategy DRIVE!2022 and the challenging European automotive environment. The Board also used this opportunity to meet with economists, unionists and politicians. 

Dr. Karl-Thomas Neumann, CEO of Adam Opel AG, emphasized that it is a great honor for Opel to be able to host the GM Board: “This 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.” 

Opel Supervisory Board Chairman Steve Girsky said, “The Board of Directors is here to underline its solidarity and support. Opel has been part of GM since 1929 and is today more than ever a decisive element for the entire company’s innovative power. This partnership is stronger than it has ever been.”

Source: GM / Opel