GM's Opel will build new model at German plant

FRANKFURT (Reuters) -- Opel will build a new model at its German plant in Ruesselsheim, the automaker said in a statement today.

Opel said it would not provide further details on the model yet for competition reasons.

Currently, the plant produces four variants of the mid-sized Insignia. From 2015, it will also make the Opel Zafira Tourer minivan, which is currently built at the carmaker’s Bochum plant in Germany. Opel will close the Bochum factory next year as part of restructuring measures at the money-losing automaker.

''We have developed a clear ten-year plan which focuses on a multi-billion dollar model offensive. And we are already paving the way for the products that will give us the chance for further growth,’’ Karl-Thomas Neumann, Opel’s CEO, said in the statement.

PSA alliance

Opel parent General Motors and PSA/Peugeot-Citroen today announced that expected savings from a partnership established in February to help both companies cut costs in Europe, would total $1.2 billion by 2018, less than the previous target of $2 billion by 2016.

Opel said today that PSA will make a future compact crossover, the C-CUV, for both carmakers at its factory in Sochaux, France.

The manufacturers earlier agreed that GM will assemble future small minivans for both companies at an Opel plant in Zaragoza, Spain.