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GM shifts gears, will keep Opel

General Motors' board of directors has decided that it will keep the Opel business and restructure it, putting an end to plans to sell the European operations to auto supplier Magna International. GM said it expects the restructuring of Opel to cost $4.42 billion (3 million euros), which it says is lower than the costs associated with outside bids for the company. GM said it will soon present its restructuring plans for Opel to the German government and other governments in Europe.

Daimler, Renault-Nissan in talks on fuel cell

German automaker Daimler AG is talking to partners Renault SA and Nissan Motor Co. about working together on fuel cell technology, the German automaker's head of research and development told Reuters in an interview. "Fuel cell technology is also electric so it could make a lot of sense to join forces also in this field," Thomas Weber, board member for r&d at the maker of Mercedes-Benz and Smart cars, said at the Shanghai auto show.

GM shelves Camaro convertible, Z28

General Motors has delayed indefinitely the Chevrolet Camaro convertible and Z28 high-performance variant to save cash, sources say. GM also has tabled plans to add a four-cylinder engine version of the Camaro. GM is starting to ship the Camaro to dealers this week.