German automobile manufacturer Opel is set to invest EUR245m at its Ruesselsheim plant in Germany to produce two additional vehicles later in the decade.
The plant will also be responsible for the assembly of a future model under its Buick brand for the US market. Production of the new models will commence in the second half of the decade.
Opel CEO Karl-Thomas Neumann said that the Buick production in Ruesselsheim will further improve our capacity utilization.
In addition, the company will produce an additional variant of its Insignia in the future. It will also change its export strategy for the Chinese market, by ceasing sales of the Opel brand in the country by January 2015.
"This is a long overdue decision. It would have cost hundreds of millions of euros to raise awareness of the Opel brand and to expand the distribution network," Neumann added.
"Buick, however, is one of the market leaders in China and we plan to intensify our future collaboration, with several projects currently under examination."
