GM sent Opel “an additional $930m in temporary aid until more permanent financing can be found” (good luck with that,) GM disclosed in a filing with the SEC. The total financing GM has provided to Opel now stands at $1.83 b, writes the DetN. It’s not that GM sent the money out of the kindness of their hearts.
The $930m million includes “the acceleration of certain payments owed under engineering services agreements,” the filing says. In other words: GM finally pays some outstanding bills. For more than a year, it had been mentioned off and on that GM owes Opel anywhere between €1b and €2b for services rendered. That would be $1.43b to $2.86b.