Isuzu denies plans to withdraw from Opel joint venture

Article by Anita Panait, on August 7, 2012

Isuzu Motors has rejected reports that it has plans to withdraw from a diesel engine manufacturing joint venture with General Motors' Opel unit. The joint venture, in which Isuzu has a 40 percent stake, has been developing diesel engines for Opel's Astra, Corsa and Meriva models in Poland since 1999. Isuzu spokesman Eiji Mitsuhashi denied a report in the Nikkei business daily that the carmaker plans to pull out of the venture.

Mitsuhashi also declined to clarify a part of the report saying that Isuzu plans to stop the development of the next-generation engine for Opel. According to the report by Nikkei, Isuzu plans to halt developing new engines for Opel due the dwindling car market in Europe. In May, Isuzu said it was holding discussions over a possible equity alliance with GM, dismissing reports that such talks were taking place.

GM disclosed last week that its Europe unit posted an operating loss of $361 million in the second quarter of 2012, in contrast to a profit of $102 million in the same period in 2011. But since GM’s loss in the unit was smaller than what some analysts had expected, the group managed to log a better-than-expected profit.

If you liked the article, share on:

Comments

Recommended

All-new BMW X3 (G01) just made its debut! The updated model has a familiar design, and slightly increased dimensions compared to its successful predecessors. For more cabin space, the wheelbase...
by - June 27, 2017
Polestar is notably known to be Volvo's internal performance specialists, and around last year Polestar revealed to the public that it will utilize electrification to further advance the power of...
by - June 26, 2017
Earlier this month, Porsche introduced to us the 911 Turbo S Exclusive Series. The car wore a Golden Yellow Metallic paint. The same time it was launched, the company said...
by - June 26, 2017
Last month, the Lamborghini Centenario made its way to the Transformers: The Last Knight premiere where it got the attention of many. Following that event, three Lamborghini Centenario coupes landed...
by - June 26, 2017
The Holy Trinity of hypercars may not be accessible anymore after being discontinued, but that doesn’t mean we won’t see any more hypercars in the future. What we know is...
by - June 26, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries