The EU's Directorate-General for Competition (EUDGC) is looking at the Opel deal that should have been concluded already, and is asking questions of Germany and GM. Principally it is trying to resolve the issue of state aid; it was reported before that if Opel was purchased by Magna then the German government would provide financial assistance. However, if the bidder GM is said to have preferred, Belgian investment fund RHJ, won, then there would be no money coming from the German authorities.
- Jonathon Ramsey
- Sep 13, 2009
When GM decided to hand 55% of Opel to Magna, you didn't think the Belgians were just going to have some waffles and call it quits, did you? Oh no. Belgium's prime minister made a call to the EU president about the deal, and the EU Competition Commissioner Neelie Kroes told a Belgian newspaper, "If something happens against the rules, I will take action."
- Jeremy Korzeniewski
- Dec 13, 2008
The European Union has been working on new legislation with the goal of reducing overall carbon emissions to just 130 g/km by 2015. Many believe that electric vehicles are the best way to achieve this ultimate goal, but internal reports may not agree with this assessment, according to the Financial Times. In fact, Jean Syrota, the former French energy industry regulator, is said to have authored a 129-page document that promotes the continued use of the internal combustion engine, albeit ICEs co
- Xavier Navarro
- Nov 4, 2008
As we all know, the auto industry is sometimes subsidized by Governments, especially in hard times like this. In the case of the EU, its Commission President Jose Manuel Barroso and Industry Commissioner Guenter Verheugen have announced that the European car industry would get help - if automakers produce clean cars. The European Automobile Manufacturers Association (ACEA) wants a €40 billion loan package to help it develop EU-required green technologies. ACEA claims that, without this help
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