Funky Cars > GM ready to let Opel go for free?

[Autoblog] The only requirement is that the buyer must inject €500 million (around $652M USD) into Opel for operations. While GM CEO Fritz Henderson has said there are six serious investors in discussions for Opel, and that a deal should be done by early May, the fact that GM has said "if you pay the bills you can have it" indicates that GM is ready to work with anyone who's willing to sign.

Previous [Previous] Delphi Wins Extension on G.M. Talks - DealBook Blog - NYTim...

Next [Next] VIDEO: Driving a Tesla-powered Smart...

Some related posts from Technorati and Google.

[Transport Gooru] Scoopful of GM news - April 22, 2009: Opel weds Fiat?, Deep Cuts ...: …GM, Opel, FIAT, RumormillDespite Fiat SpA chairman Luca de Montezemolo (above) denying that his company is interested in purchasing General Motors’ Opel brand, a new report by The Wall Street Journal indicates that many investors and analysts apparently find the alleged tie-up to be “far more compelling”

[Auto Sources] GM ready to let Opel go for free? | Auto Sources: The only stipulation is that the buyer must inject €500 million (around $652M USD) into Opel for operations. While GM CEO Fritz Henderson has said there are six serious investors in discussions for Opel, and that a deal should be done by early Might, the fact that GM has stated “if you pay the bills you can have it”

[eGMCarTech] Opel could keep surviving even if GM files for bankruptcy - eGMCarTech: Opel, who would not automatically get cut off from GM even if it files for bankruptcy, has requested 3.3 billion euros ($4.3 billion USD) in loan guarantees from governments around Europe.

[ForexLive] Unions throughout the world are playing a dangerous game | ForexLive: You can bet that Fiat are after some significant cost savings as far as salaries are concerned. Indeed we’ve just seen that the main German Union IG Metall has said that Fiat doesn’t fulfil its criteria as a potential investor for GM’s Opel division.  With few potential other suitors lined up, the unions may have to concede a lot of ground or end up with the prospect of GM and Chrysler seeking bankruptcy.

[The Truth About Cars] Editorial: General Motors Death Watch 243: What's Old is New | The ...: Here’s a radical idea: why doesn’t Congress rewrite the dealer franchise laws at the federal level to allow cars to be sold directly by the manufacturer in all fifty states under a uniform set of rules, while allowing GM to sever its obligations to the thousands-too-many dealers it doesn’t need? Unlike most of the rest of this crap, that would actually be justifiable as a regulation of interstate commerce, and would allow GM to become “Chevillac”

[eGMCarTech] Opel/Vauxhall Insignia ecoFLEX gets 46 mpg keeps its 160-hp turbo ...: A higher first and second gear ratio, combined with a higher final drive ratio are the only changes that have been made to the ecoFLEX’s powertrain, ensuring that the generous torque from the 2.0 CDTi 160 engine (350Nm from 1750-2500rpm, with overboost to 380Nm) remains to ensure optimum driveability. But to help drivers get the best from their ecoFLEX’s economy, a graphic is displayed in the instrument panel recommending the best change-up points.

[GM-VOLT : Chevy Volt Electric Car Site] BYD FD3M, World's First Mass Produced Electric Car, Not Catching ...: As Guido pointed out in #27, early adopters were going to love the Volt at just about any price, but the vast majority of us won’t buy it unless we can get it close to, or below, $30,000, net after tax credit. If gas prices stay near $2 the Volt will be welcomed, but if the price of gas is around $4, or more, by November 2010, GM is going to look brilliant as they release a car that uses just 5 or 6 gallons of gasoline a month (for most of us).

[Autoblog] Opel to spin off, GM will retain stake: In the meantime, Opel needs approximately 3.3 billion euros or $4.2 billion USD to stay solvent and GM is in talks with governments in Spain, the UK and Germany about receiving government aid. Opel is also submitting a business plan by the end of next week to four German states in which it operates plants, and the German federal government headed by Chancellor Angela Merkel will receive a similar plan by this Monday, March 2.

[Patent Law Blog (Patently-O)] Patent Law Blog (Patently-O): Patents and the Auto Industry Bailout: Since then, Opel has been paying annual royalty fees of some USD 800M to GM GTO. (One small, but possibly troublesome detail, is that, according to the online European patent register, those transfers do not appear to have been .

[Hellfire Empire - Moto] GM ready to let Opel go for free? at Hellfire Empire - Moto: The only requirement is that the buyer must inject €500 million (around $652M USD) into Opel for operations. While GM CEO Fritz Henderson has said there are six serious investors in discussions for Opel, and that a deal should be done by early May, the fact that GM has said “if you pay the bills you can have it”

[The Last Mile] Introducing Project P.U.M.A. | The Last Mile: In regards to our relationship with GM, the collaboration began over 18 months ago (in advance of the bailout hearings) with the Opel Flextreme project and continues today with Project P.U.M.A. We’re pleased with our progress to date and plan to share updates in the coming months.

[The Motor Report Auto News Blog] GM Restructuring Plan: Cutting 47000 Jobs, Seeking USD$30 Billion ...: In it, GM outlines plans to cut costs and to reduce its global workforce by 47,000, including yet more cuts to its US workforce with another 20,000 out the door by 2012. It also warned it would run out of cash by March - that’s ”˜stone motherless broke’ friends - without immediate additional Federal funding.

[Australian Car Advice | News Blog] Aussie carmakers “missed” move to small cars - Ford boss ...: Both Ford and GM Holden will move into small car production in the next 18 months, Holden producing an as yet unnamed small car, based on a global Delta platform, at its plant at Elizabeth in South Australia, along side the Holden ....

[The Motor Report Auto News Blog] Second And Third Generation Chevrolet Volt Plug-In Hybrid Already ...: You can bet GM will be working furiously to make sure the Volt lives up to expectations. After all, there’s more riding on its battery-packs and drivetrain than might be immediately apparent - it might just be the most important range of vehicles in the company’s modern history.

[The Prophecy Forums] [Car news] GM Spins Off Opel, Demands $4B USD From European ...: GM has says it needs between $11B USD and $14B USD in cash at all times to stay in business. However, even if the U.S. government lends GM a helping hand to fix its cash deficiency, serious questions about its long term prospects remain, given that it is looking to sell or part with two of three European brands and cut back on its overseas sales.

Reflected tags on Technorati: Blog, , , ,