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General Motors Corporation announced July 17 that 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
This investment builds on GM’s existing relationship with VM Motori, GM’s diesel expertise worldwide, and its strong relationship with Isuzu.
“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
Penske Corporation, based in
VM Motori, founded in 1947, specializes in engine design and production for a variety of uses, including light commercial vehicles.
GM currently offers 17 diesel engine variants in 45 vehicle lines around the world. GM sells more than one million diesel engines annually, with products that offer a range of choices from the 1.3-liter four-cylinder diesel engine sold in the Opel Agila and Corsa, up to the 6.6L V-8 Duramax diesel sold in full-size vans, heavy-duty pickups and medium duty trucks in the U.S.