German Minister Urges GM to Submit Opel Plan

General Motors has already started negotiations with employees, union and government officials but countries hosting Opel factories are still pressing GM to reveal its restructuring plan. Germany's finance minister Wolfgang Schaeuble asked the US-based car manufacturer to clarify its plans for Opel and said that a potential scenario in which GM doesn't need financing for the German brand is still very possible.

"My position is very clear: it is now up to General Motors to shed light on how it will meet its company responsibilities," he told Bild am Sonntag newspaper. "The word from Detroit is GM doesn't need state financing for Opel. I just say: so much the better!" he added. "With Opel, GM has a big responsibility for employees, for the regions concerned and for the whole country."

The Opel restructuring plan will be released, however, in mid-December, as there are still a number of issues to be resolved before finalizing it.

"I have been on this job for only 10 days, but I am keenly aware that we cannot let this situation linger. Time is not on our side. I cannot make excuses for things done in the past, but we can move forward. I intend to present by mid-December a sustainable plan that is in the best interest of Opel and Vauxhall; one with clearly defined, achievable result," Nick Reilly, currently the Opel/Vauxhall CEO, said in a statement.

GM is believed to remove around 10,000 jobs across Europe as it intends to reduce capacity across the Old Continent by somewhere between 20 and 25 percent.
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About the author: Bogdan Popa
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Bogdan keeps an eye on how technology is taking over the car world. His long-term goals are buying an 18-wheeler because he needs more space for his kid’s toys, and convincing Google and Apple that Android Auto and CarPlay deserve at least as much attention as their phones.
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