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Germany’s SolarWorld Wants to Buy…a Car Company?

November 19, 2008
by Eric Savitz
Blogger and Columnist, Barron's, Tech Trader Daily

Eric Savitz

OK, so here is the weirdest story of the day. SolarWorld, one of the largest solar companies in Germany, today declared that they want to buy several sites in Germany that now belong to the Opel division of General Motors (GM). In short, they want to expand from solar modules into the auto business.

As noted in an AP story picked up by the Wall Street Journal, SolarWorld said it intends to offer one billion Euros, including 250 million in cash and 750 million in credit lines, for four German production facilities and Opel’s development center and headquarters in Ruesselsheim.

The goal: to create Europe’s first true “green” auto company, with a focus on building electric and hybrid cars.

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