Opel's supervisory board has approved changes in the company it hopes revitalizes the brand.

The most important element is "massive" investments in new products over a four year period. The division also plans to increase exports and cut materials and development costs. The Opel board said it expects to also see savings from GM's partnership with Peugeot-Cetroen.

The board's press release was short on details about how the plan would work or how it would be implemented.

Stephen Girsky, Vice-Chairman, General Motors and Chairman, Opel Supervisory Board, said in the statement, "The plan we approved today paves the way for Opel's strong future. GM stands behind Opel, and encourages both its management and employee representatives to continue working together to better satisfy customers and return quickly to profitability."

Read the full (though very short) press release below.

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Rüsselsheim. Today, the Supervisory Board of Adam Opel AG has approved a business plan that will be instrumental in bringing Opel back to sustainable profitability.

The plan addresses:
Investments in the Opel/Vauxhall product portfolio, combined with a new sales strategy
A revised brand strategy
Plans aimed at reducing material, development and production costs and further leveraging synergies from the alliance between GM and PSA Peugeot Citroën, and
A redefined export and market expansion strategy

These elements will be instrumental in returning to positive results for Opel.

Stephen Girsky, Vice-Chairman, General Motors and Chairman, Opel Supervisory Board, said: "The plan we approved today paves the way for Opel's strong future. GM stands behind Opel, and encourages both its management and employee representatives to continue working together to better satisfy customers and return quickly to profitability."

Wolfgang Schäfer-Klug, Chairman of the European Employee Forum and Vice Chairman of the Supervisory Board of Adam Opel AG: "The 2012-2016 business plan approved by the Supervisory Board is a good basis for the future of Opel. The support by GM shows how important European engineering and the European Opel/Vauxhall sites are to the company. Opel must focus on its strengths in order to grow and secure jobs even in a difficult market environment."