The new president of GM Europe said Saturday that he was still hoping for German government financial assistance to restructure Opel, but added that even if Berlin fails to come through it will not mean more layoffs in the country.
Nick Reilly, who was named president of GM Europe on Friday after previously serving as president of GM International Operations, said in a conference call that Adam Opel GmbH was not going to be able to come up with the (EURO)3.3 billion ($4.97 billion) it needs on its own.
"There is a belief out there that GM has sufficient money in the U.S. that it can spend in Europe," Reilly said according to a transcript of the call …
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