Opel - egmCarTech (2)

BREAKING: GM board of directors decide to keep Opel

Posted: Nov 03, 2009

Filed under: Breaking, GM, Industry News, Opel

General Motors’ board of directors said today that it will keep Opel and restructure it, putting an end to plans to sell the brand to Magna International. GM said that it expects the restructuring of Opel to cost 3 billion euros ($4.42 billion USD), which it says lowers the costs associated with outside bids for [...]

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Report: Germany to reconsider Opel sale, may let it stay with GM

Posted: Oct 27, 2009

Filed under: GM, Industry News, Opel

According to a report by Frankfurter Allgemeine Zeitung, Germany’s new government will take a new look at the sale of General Motors’ Opel unit to Magna International and may consider an arrangement where the brand remains with GM.
“The new government will take another look at decisions made up to now on Opel and imminent conditions [...]

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GM gives an update on Opel sale… sort of

Posted: Oct 25, 2009

Filed under: GM, Industry News, Opel

The European Union is in the process of reviewing the Opel situation and the process by which Magna and Sberbank got involved, according to John Smith, GM Group Vice President, Corporate Planning and Alliances.
“Such a review is usual and customary when extensive government financial support is involved.” says Smith. “Last week, the Directorate-General for [...]

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Brussels: GM should be allowed to reconsider Opel sale

Posted: Oct 16, 2009

Filed under: GM, Industry News, Opel

Neelie Kroes, the head of EU competition, told Germany on Friday that General Motors should be allowed to reconsider the sale of its Opel brand to Magna International and its Russian partner Serbank. Kroes said that there were “significant indications” that aid promised by the government to the New Opel was subject to pre-condition that a [...]

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Report: 2011 Buick Regal GS will offer 280-hp and Brembo brakes

Posted: Oct 16, 2009

Filed under: Buick, GM, Industry News, Opel

Earlier this week when General Motors made it official that the Opel Insignia will be coming to the United States badged as the Buick Regal, we were only thinking about one thing and one thing only – will Buick offer a high-performance version like the Opel Insignia OPC?
According to the folks over at GMInsideNews, GM [...]

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GM to sign off on Opel sale on Thursday

Posted: Oct 13, 2009

Filed under: GM, Industry News, Opel

According to sources close to the negotiations, General Motors Company will sign a deal on Thursday to sell a majority stake in Opel to Magna International. It was confirmed about a month ago that under a new deal, Magna and Sberbank will own a 55 percent stake in Opel, while GM will hold a 35 [...]

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Porsche threatens to cancel Magna contract to build next-generation Boxster and Cayman

Posted: Sep 25, 2009

Filed under: Industry News, Opel, Porsche

Porsche has threatened to pull its existing contract with Magna to build the next-generation Boxster and Cayman in Austria starting in 2013. The Stuttgart automaker said that it may instead move production to Karmann in Germany. The move comes as Porsche aims to guard its engineering and production cost secrets for its upcoming roadster and [...]

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Magna could cut as many as 10,500 jobs at Opel

Posted: Sep 14, 2009

Filed under: GM, Industry News, Opel

According to Magna’s co-chief executive Siegfried Wolf, Magna International plans to cut as many as 10,500 jobs at Opel in Europe, with nearly half of those coming from Germany.
Speaking to reporters at a press conference earlier today, Wolf said that the cuts were a part of the Canadian company’ plans for Opel.
GM announced last week [...]

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BREAKING: GM to sell 55% of Opel to Magna

Posted: Sep 10, 2009

Filed under: GM, Industry News, Opel

After months and months of debates and discussion, GM has finally announced today what it plans on doing with Opel. The Detroit automaker said that under a new deal, Magna/Sberbank will own a 55 percent stake in Opel, while GM will hold a 35 percent stake and employees will receive a 10 percent stake.
GM said [...]

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Let’s give it another try shall we? GM board meets again today to discuss Opel

Posted: Sep 09, 2009

Filed under: GM, Industry News, Opel

There is no doubt that General Motors’ company is having a very hard time letting Opel go and letting it grow up under a new family. However, the board of directors will meet once again today to talk about what to do with the German brand after failing to come to a conclusion last month.
Many [...]