Opel will soon offer a flagship SUV and decided to invest over $300 million (EUR245 million) in its Ruesselsheim site in Germany, which will be in charge of building the vehicle. General Motors chief executive Mary Barra said the SUV will be a second flagship for Opel after the Insignia midsize sedan. Opel said it plans to roll out the SUV by end of the decade.
The SUV will be dubbed as the Monza and will be underpinned by the platform that underpins vehicles from GM's Buick brand, according to German car magazine AutoBild. The magazine al so said Opel will start selling the Monza in 2019 at starting prices of below EUR30,000 ($37,700).
Opel CEO Karl-Thomas Neumann revealed in March that the brand would shift to crossover due to strong demand for the body style. GM plans to spend over $627 million (EUR500,000) in the output of new engines and transmissions at its Ruesselsheim and Kaiserslautern sites in Germany, and at its Tychy plant in Poland.
Barra remarked during her recent visit to Opel’s headquarters in Europe that the brand is very important to GM strategically. She added that the new investments will help rejuvenate the Opel’s appeal and strengthen its position in Europe.
GM announced in 2013 a plan to spend EUR4 billion in its European operations by 2016 to revamp Opel's aging lineup with 23 new or replacement products and 13 new engines.
Early this year, Opel inked a collective labor agreement with workers at its Ruesselsheim, Kaiserslautern and Eisenach plants that entails a job protection guarantee until 2018.