General Motors on Friday confirmed it had no immediate plans to participate in a five billion euro recapitalisation that Fiat plans for its loss-making car division Fiat Auto, Reuters reported.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

“In our 10-Q (filing) we said that we chose not to participate and we have the option of changing that decision in the future, but at this point in time we have no plans to participate in the recapitalisation,” General Motors spokesman Jerry Dubrowski told Reuters.

“We’ve disclosed this already in the 10-Q filing which was filed over a month ago and we talked about this at the annual meeting,” he added, according to the news agency which noted that GM holds a 20% stake in Fiat Auto.

Just Auto Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Auto Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving automotive industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now