Opel planning to build a premium model and an electric vehicle

Opel�s new head Karl-Friedrich Stracke said in an interview with Welt am Sonntag that there are plans to build a premium model above its top-of-the-range Insignia and an electric car that�s smaller than its Ampera. Opel is General Motors' European unit. Stracke, who became the head in April, said that Opel can�t be contented with just the Insignia. Stracke added that this model will arrive in the market within four or five years into a new crossover segment that doesn�t directly compete with models from BMW AG, Volkswagen�s Audi, or Daimler AG's Mercedes-Benz.

Opel also aims to launch an electric car that has the size of the Corsa hatchback or the Agila subcompact aside from the Ampera, a version of the Chevrolet Volt, according to Autonews. In addition, Stracke is aiming to expand Opel outside its domestic market in Europe. He said that Opel can attain annual sales of about 150,000 vehicles outside Europe within three years.

Stracke�s predecessor, Nick Reilly (who now serves as chairman of Opel's supervisory board), had set a target of about 100,000 units. Stracke said that parent GM has given the green light for Opel to expand outside Europe on the condition that it remains profitable and that it complements the other brands from GM. [via - 4wheelsnews]