GM boss Rick Wagoner has said the firm is willing to take “a less than 100%” stake in its Opel offshoot, in order to get German aid to save the subsidiary.
Germany’s economy minister is in the US to discuss a government bail-out of European subsidiary Opel.
But Berlin wants to be sure no state support would find its way back to Detroit and be used to bail out GM.
“We’re open to a different structure in Europe,” said Wagoner. “We need more cost savings.”
Earlier this month, GM’s top executive warned that the European division of General Motors, which comprises Opel, Saab and Vauxhall, could collapse within weeks without European governments’ help.
This, he said, could cost up to 300,000 jobs.
GM posted a loss of $30.9bn in 2008 and is haemorrhaging money at a worrying rate.
It has already announced plans to cut 47,000 jobs and close five more US factories, with about 26,000 of the cuts taking place outside the US.
Source: BBC News
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