General Motors' Chairman and CEO Dan Akerson announced plans of investing 4 billion EUR (5.2 billion USD) in Opel in the next four years.

General Motors’ Chairman and CEO Dan Akerson announced plans of investing 4 billion EUR (5.2 billion USD) in Opel in the next four years.

At the beginning of the year Akerson denied rumors about GM's decision to sell Opel to PSA Peugeot Citroen by saying the German marque is not for sale. Earlier this week at a press conference in Germany he declared GM is "fully supportive of the Opel turnaround plan" and will invest 4 billion EUR (5.2 billion USD) by 2016. He did not say anything about closing factories or other measures to make Opel profitable after a very long period of time.

As previously reported, Opel will attempt to cut costs by 500M USD by 2015 and in the next four years they want to launch 23 new models and 13 new engines. They will also focus on the collaboration with PSA for co-developing three new vehicle architectures.

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General Motors to invest 5.2 billion USD in Opel by 2016