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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.

Penske calls off Saturn deal, brand will close

IndyCar team owner and dealer magnate Roger Penske will not buy Saturn and the brand will be shuttered, General Motors said Wednesday. GM said Penske called off discussions after failing to line up more future products. Penske had been in talks with Renault for vehicles.

East meets West at NDE

Nissan opened the doors to its European design studios late last month, part of the Japanese automaker's first ever participation in the London Design Festival events in London, UK. Showcasing the works of 20 designers under the theme of 'East meets West: the cultural crossroads of creativity', the exhibition also included a ‘Pecha Kucha' event with presentations from a further six influential designers. Held in Nissan Design Europe's ground floor conference rooms, the exhibition presented pieces from artists and designers around the world working across various disciplines, including photography, Fine Arts, textiles, product design, fashion and ceramics.