Pedigree of the Brands - A Different View of the Story... ...Many of us own cars which come from rather famous brands. Plenty of times, even if you hate to admit it, the badge is the main reason to look at a certain car and, in the end, it's the decisive reason in actually choosing the "perfect"model. OK, there ... Continue reading >

100+ years since the invention of the self-propelled car, three new engines battle for a place in the automotive future. Which one do you see in your car 10 years from now?

LATEST LOG ENTRIES:

QUICK STATS:

Auto models 3851 Moto models 2526 Truck models 1024 Engines 12118

More stats >>

Auto Moto Tuning Safety Stars & Cars Industry Tech & Toys

9th of February 2010 | 10:22 GMT | Bogdan Popa

Opel Unveils Plan for the Future

STORY HIGHLIGHTS:

Opel to invest 11 billion Euros in the next five years
It will launch a new electric model
The company will reduce European capacity by 20 percent

Opel/Vauxhall CEO has just unveiled the so-called "Plan for the Future" that is expected to help the two automakers survive the crisis and even return to profit.

To get straight into details, Opel will invest a total of 11 billion Euros by 2014, with the viability plan requiring a long-term funding of 3.3 billion Euros. GM has already provided 650 million Euros in advanced payments in January and the company is also holding talks with European governments for another 2.7 billion Euros through loans and loan guarantees.

“We will build a European company that is profitable, self-sustainable and fit for the long-term,” Reilly said. “This keeps a manufacturing base in Europe. It is good for Europe, good for our employees and good for our customers. We therefore trust that the plan will be supported by our employees.”

The "New Opel" will bring eight major launches in 2010 and another four in 2011, such as Meriva, Corsa, Movano and Ampera. Additionally, the company will invest another 1 billion Euros for launching another extended-range electric vehicle and expanding LPG and CNG versions of its cars. Last but not least, it will spend the aforementioned sum for introducing pure battery-electric vehicles in smaller-size segments.

“Opel/Vauxhall has a clear vision: to be a leading European manufacturer of high quality, desirable automotive products, based on German engineering, driven by a united team of professionals and respected around the world. This vision will be realized by offering an exciting and expanded product portfolio based on a strategic push into alternative propulsion technology,” said Reilly.

One of the most important subjects is the production cut the company is planning for Europe. As we told you several times in the past, Opel wants to reduce capacity by 20 percent, which would allow the company, at least on paper, to become profitable in 2012.

In order for these to happen, GM will lay off thousands of employees across the continent. Here's the planned job cut for European facilities.

Antwerp - 2,377 jobs to be removed - the plant will be closed
Bochum - 1,799
Eisenach - 300
Luton - 369
Ruesselsheim - 862
Zaragoza - 900
Kaiserslautern - 300

The plants in Ellesmere Port, Gliwice, Aspern and Szentgotthard won't be affected by the job reduction plan. As for sales and administrations areas, here are the countries and the number of jobs to be eliminated: