"We have developed a sustainable plan for the future, including a break-even target, which we expect to unveil in the middle of December," Reilly wrote. The plan for Opel to be unveiled next month will include a schedule to launch new models and a financial break-even target.
This plan will involve structural costs reductions and more importantly it will also include new product commitments, continued investment in research and development and an aggressive schedule for new model launches.
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Motors Liquidation Company, formerly General Motors Corporation, is engaged primarily in the development, production and marketing of cars, trucks and parts. The Company develops, manufactures and markets vehicles worldwide through its four automotive segments: GM North America, GM Europe, GM Latin America/Africa/Mid-East and GM Asia Pacific. In addition to its automotive operations, the Company’s finance and insurance operations are primarily conducted through GMAC LLC. GMAC provides a range of financial services, including consumer vehicle financing, automotive dealership and other commercial financing. In June 2009, the Company filed for bankruptcy. In July 2009, the Company announced that the United States Bankruptcy Court for the Southern District of New York approved the sale of substantially all of General Motors Corporation's assets to NGMCO, Inc., an entity funded by the United States Department of the Treasury. In July 2009, the Company emerged from bankruptcy protection.
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