Accelerating Opel

The interim head of General Motors Europe, Nick Reilly, told a news conference in London that the company wanted to finalize details on the future of its European operations within the next few weeks.

Reilly said GM wanted to reduce its production across Europe by 20 to 25 percent as part of a 3.3 billion euro restructuring plan.

"We cannot let this situation linger," Reilly said. "We have to get on with the restructuring."

The cuts to production are expected to result in around 10,000 job cuts at General Motors' Opel and Vauxhall plants in Europe. It is still unclear where those jobs will be lost and Reilly was unwilling to provide details at the conference in the British capital.

"It could involve closing a plant," he said. "We haven't 100 percent decided."

About half of GM's European workforce is based in Germany.

European government funding

Reilly said that GM had about two billion euros of its own money to invest in the restructuring of its European operations, however, he said that the company also hoped to receive financial support from European governments.

Reilly also said the 3.3 billion euros for the restructuring would be used to finance a short-term shake-up, as well as cover redundancy payments and cover investment in the company's product portfolio.

Opel summit

The European Commission has invited General Motors and EU economic ministers to Brussels next Monday to discuss Opel and Vauxhall.

A spokesperson for EU Industry Commissioner Guenter Verheugen said the meeting would "talk about plans for the European operations."

GM's Europe head Nick Reilly is expected to attend the meeting.

ca/dpa/AFP/Reuters

Editor: Mark Hallam