
Eleven's a crowd...
Talks over the future of GM Europe brokedown late last night, leaving the UK's two Vauxhall plants with an uncertain fate.
GM has made it clear that GM Europe will make a loss this year, in part because of the downturn, but also because it believes there are three too many GM plants in Europe. News reports suggest that the Antwerp Opel plant is in line to be shut, along with one or both of the UK factories.
What did the talks breakdown? Money and jobs.
With GM facing bankruptcy in the US, GM Europe needs short-term financing to stay afloat while a suitable buyer came to the rescue. But the German government balked at demands for extra cash and guarantees.
In the UK, the problem for the government is intensenly political: 4,300 jobs directly at stake and the Ellesmere plant was favourite to produce the Vauxhall Ampera - the European version of GM's electric car - by 2011.
How will its aim to seek a commercial solution to the GM Europe problem stack up against its rhetoric on electric vehicles from just last month?
The credibility of its 'New Jobs, New Industry' slogan is being put to the test.