National Electric Vehicle Sweden (NEVS), owned by the cash-strapped China Evergrande Group, could be valued at as much as $1 billion.

The funds will be mainly allocated to subsidize purchases of full-electric and hybrid cars but will be also available for the latest Euro 6 cars, commercial vehicles and second-hand cars.

The governments of Rhineland-Palatinate, Hesse, and Thuringia, the states where Opel's three German plants are located have written to Carlos Tavares about a lack of information on the brand's plans.

The Korean brands have leveraged their procurement strategy and their links with Korean chipmakers to avoid the long plant stoppages which have affected rivals such as VW Group and Stellantis.