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GM Europe President Carl-Peter Forster (R) and Klaus Franz, leader of the Opel works council attend a news conference in the headquarters of German car manufacturer Opel in Ruesselsheim Sept. 10, 2009. U.S. carmaker General Motors has decided to sell Opel to a group led by Canadian car parts maker Magna, signalling an end to months of uncertainty for the European unit and its 50,000 workers.(Xinhua/Reuters Photo)
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GM Europe President Carl-Peter Forster attends a news conference in the headquarters of German car manufacturer Opel in Ruesselsheim Sept. 10, 2009. U.S. carmaker General Motors has decided to sell Opel to a group led by Canadian car parts maker Magna, signalling an end to months of uncertainty for the European unit and its 50,000 workers.(Xinhua/Reuters Photo)
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BERLIN, Sept. 10 (Xinhua) -- U.S. carmaking giant General Motors (GM) is to sell off a majority stake in its European offshoot Opel to a consortium led by the Canadian-Austrian auto parts group Magna International, German government announced on Thursday.
GM board to review final bids for Opel
CHICAGO, Aug. 21 (Xinhua) -- U.S. automaker General Motors Co. is expected to review final bids for its Opel subsidiary Friday amid mounting pressure from Germany to accept an offer from Magna International Inc.
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A G.M. logo is seen behind an Opel logo at the Opel plant of Antwerp August 21, 2009. U.S. carmaker General Motors' board of directors is set to decide on Friday which suitor for the Opel business in Europe it will support. (Xinhua/Reuters Photo)
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According to a Detroit News report, the German government would provide 6.4 billion U.S. dollars in loans to Adam Opel GmbH, if GM selected the bid from a Magna-led consortium. Full story
GM launches light truck joint venture with China's FAW
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The General Motors logo is seen outside its headquarters at the Renaissance Center in Detroit, Michigan Aug. 25, 2009. (Xinhua/Reuters Photo)
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CHANGCHUN, Aug. 30 (Xinhua) -- American General Motors (GM) and China's state-owned automaker FAW Group Corp. (FAW) announced Sunday a two billion yuan (about 293 million U.S. dollars) joint venture to make light-duty trucks and vans.
"Our new joint venture will address demand in China and other markets for high-quality, affordable products in one of the industry's most robust segments, while complementing the portfolio of products that GM and FAW currently offer," said Nick Reilly, executive vice president of GM. Full story
GM to drop corporate logo from vehicles
CHICAGO, Aug. 25 (Xinhua) -- The largest U.S. automaker General Motors Co. will no longer include the silver "GM" corporate logo on its vehicles in a move to emphasize the four core brands that survived the automaker's bankruptcy, a spokesman of the company said Tuesday.
The move, which starts with the 2010 model year, was made earlier this month by the company's newly formed executive committee. Full story
Special Report: Global Financial Crisis
