Bedfordshire, England – General Motors is seeking investors to buy a stake in its U.K. subsidiary Vauxhall, according to the Daily Telegraph.
The automaker said that it would consider an alliance or partnership, but has no immediate plans to sell the subsidiary. GM said that it will likely cut jobs in the U.K., where it has 5,000 employees.
According to reports, General Motors will also consider taking on partners for Opel, based in Germany, and that Saab’s board of directors has called an extraordinary meeting to consider its future. General Motors has said it plans to make Saab an independent business by the 2010; the Swedish government rejected a request for aid by GM for the struggling auto company.