GM Plans Investment of 50 Percent in
Equity Interest in VM Motori
General Motors Corp. announced it has
reached a joint venture agreement with Penske Corporation to
purchase 50-percent equity of VM Motori S.p.A, a designer and
manufacturer of diesel engines based in Cento, Italy.
VM Motori Engine
This investment builds on GM’s
existing relationship with VM Motori, GM’s diesel
expertise worldwide, and its strong relationship with
“Diesel engines have a very
important role in GM's global advanced propulsion
strategy,” said Tom Stephens, group vice president, GM
Global Powertrain and Quality.
“We are leveraging expertise and
resources within our company and through technology partners to
ensure we develop the world’s best powertrains.”
GM announced at the Geneva Motor Show
that it will jointly develop a new 2.9-liter V-6 turbo diesel
engine with VM Motori that is scheduled to launch in the
Cadillac CTS in Europe in 2009.
GM Powertrain Europe will focus on the
development of the first industry application of a clean
combustion process called closed-loop combustion control,
electronic engine control and exhaust-gas aftertreatment, as
well as calibration and integration into GM vehicles. VM Motori
plans to build the new unit at its plant in Cento, Italy, and is
responsible for the mechanical aspects of the engine’s design,
development and testing.