Spanish financial backing for General Motors’ plans for its European unit Opel will depend on their acceptance by Spanish workers, industry minister Miguel Sebastian said.
GM’s plans should “be based on industrial and competitiveness criteria and seek to preserve as many jobs as possible,” Sebastian said at a hearing in the Spanish senate, according to a Dow Jones report.
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Opel plans to invest EUR11bn within the next four years as part of a plan to return to profitability, while cutting 8,300 jobs across Europe.
Although it still has to disclose how much support it expects from Spanish authorities, the company has said it plans to eliminate 900 jobs at its factory in Zaragoza, Spain, and maintain installed capacity for the potential manufacturing of new models.
