German automobile manufacturer Opel is set to launch a new all-electric compact car by 2017 in a move to meet EU emission targets, according to a report.
The new vehicle will be battery electric vehicle (BEV), and will be smaller and cheaper than the company's Ampera electric car.
The German carmaker will launch this electric vehicle as part of its small-car initiative. In addition, the company will introduce the City vehicle in 2015 under this initiative, reported Reuters citing Automobilwoche.
Besides this, Opel announced that it will 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.
