GM to Spend 4 Billion Euros by 2016 on Europe Units’ Turn
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General Motors Co., the world’s second-largest carmaker, plans to invest 4 billion euros ($5.24 billion) in Europe operations through 2016 as it adds models to increase market share and restore profit in the region.
Spending will focus on developing 23 vehicles and 13 engines to reach a goal of breaking even in Europe by mid-decade, Chief Executive Officer Dan Akerson said at a press conference today following a meeting of the U.S. company’s board at the Opel division’s headquarters in Ruesselsheim, Germany.