Opel set to receive €300 million from Spain
General Motors really wants to hold on to the Opel brand, but the company needs extra funds for the European car company.
Now, the Spanish central government, along with the regional government of Aragon, have offered €300 million, or $358.2 million, in aid to help keep Opel alive in the country. The money will likely go to help Opel’s Figuruelas plant.
At the same time, the Spanish public is conducting protests on the government’s austerity package that includes a 5 percent pay cut for public sector workers.
Opel has been asking many different countries for money, but so far, only Spain has stepped up to help. The automaker plans to cut costs by reducing its capacity in Europe by 20 percent.
Germany is still up in the air on whether or not to help Opel. The amount that Opel is asking for is around $1.2 billion from the German government.
While they are handing out money and all...any of them want to throw us a bone?
Source: Automotive News