GM unit Opel to start manufacturing Buick vehicles for U.S.
FRANKFURT, March 28
FRANKFURT, March 28 (Reuters) - General Motors unit Opel on Friday said it will stop exporting vehicles to China in January 2015, and will start making Buick vehicles for the United States at its plant in Ruesselsheim, Germany.
Opel further said it will invest 245 million euros ($336.62 million) to build a new model at the factory. The auto maker revealed in December that it planned to make a new car, but declined to give further details as a way to preserve a competitive advantage.
Opel already makes four variants of its Insignia sedan, which share the same underpinnings as the Buick Regal, at the Ruesselsheim factory.
The company said it had decided to stop plans to expand in China because such a step would cost a triple-digit million amount. Opel sold only 4,365 cars in China last year, compared with Buick, which sold 810,000 cars. ($1 = 0.7278 Euros) (Reporting by Edward Taylor; Editing by Christoph Steitz)