GM triples Opel financing

General Motors will provide €1.9bn (£1.7bn) in equity and loans to Opel, the carmaker said yesterday, tripling its funding and cutting its request for state aid in a bid to win over European governments and labour. GM estimates that Opel, which includes Vauxhall in the UK, needs €3.3bn to be turned around. GM wants loans and guarantees worth £2bn from European governments and hopes Opel will return to profit by 2012.