GM plans to put $6 billion into European production
Vienna — General Motors, the largest US car manufacturer, will invest $6 billion in Europe over the next five years. "These are long-term investment plans and Austria is to have a key position within these plans," said GM chairman Roger Smith, here on a two- day visit. He said press reports that GM considered investments in Austria only temporary were untrue.
GM is now building a $520 million transmission and car factory in Vienna, which will produce 385,000 transmissions and 2 70,000 cars annually starting in July 1982.