GM Finances Opel Through 2016

It is rare they we get any good news out of OpelOpelGermany, 1863 > present85 models
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in recent months, but General MotorsGMUnited States of America, 1998 > present8 models
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has shown that it is still behind its ailing European branch by financing the company with €4 billion through 2016. 

"GM needs a strong presence in Europe – in terms of design and development as well as manufacturing and sales. Opel is a key to our success and enjoys its parent company’s full support," said GM Chairman and CEO Dan Akerson.

The announcement was made at a banquet at the Adam Opel Haus in Rüsselsheim that was attended by the entire Opel Board of Directors, German dignataries and the American ambassador to Germany. 

Opel's is just beginning its DRIVE!2022 business plan that it announced last year. Its plan is to break even financially by 2015. To do that it has promised to introduce 23 new models and 13 new powertrains between 2012 and 2016. It will also expand into new markets and try to revive its brand image. 

“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," said Opel CEO Karl-Thomas Neumann.