Opel’s CEO, Nick Reilly, has taken the wraps off of Opel’s future with a five year plan that outlines future alternative energy developments, product launches and shifts to the labor pool for the ailing automaker. Not wasting any time, Reilly has eight new model launches planned to take place in 2010 alone.
Opel has been under GM’s control for quite some time, and recently, members of its board slammed GM for its mismanagement of the company over the past 15 years. Opel’s current restructuring is going to cost the automaker approximately 8,300 jobs – both factory and administrative. At the announcement of these impending cuts by GM, an Opel board member declared the closing of one major plant “a declaration of war.”
Opel’s operations have been far from all negative, with GM turning to the brand for a re-badged Buick model – the new Regal, which has been received very well by the U.S. media and public alike. Opel also helped with the development of the new LaCrosse, which is underpinned by the Epsilon II platform.
As part of the eight model launch taking place in 2010, Opel will be launching the Ampera plug-in hybrid, which will be receiving part of the $1.4 billion set aside for green technology. Opel is looking to introduce new models that make use of alternative energy such as electric vehicles, as well as more applications of Start/Stop technology and LPG and CNG conversion applications.
Opel’s newly announced plans will bring a new minicar model as part of its goal to have at least 80 percent of the Opel lineup less than three years old by 2012. Opel believes that these changes will help return the automaker to a break-even point in 2011 and full profitability by 2012.
As part of the comprehensive plan, Opel has already appealed to the German government for both loans and loan guarantees to help fund its restructuring process.
