Stellantis announces billion-euro investment in German brand Opel

BERLIN, June 8 (Reuters) - Stellantis' German brand Opel will invest more than 1 billion euros ($1.16 billion) in Germany by 2030 and produce the next generation of its best-selling Astra compact car at the subsidiary's Ruesselsheim plant, the company said on Monday.

The carmaker plans at least four new models by the end of the decade, including successors to the Astra and Corsa and a new compact SUV developed with Chinese partner Leapmotor, a statement said.

Opel will also continue to invest in existing models in its portfolio, it added.

"The investment into the production of the next Astra generation in Ruesselsheim underlines the focus of Stellantis on Germany and the importance of Opel," Stellantis Europe chief Emanuele Cappellano said.

Accounting for some 30% of total car sales in Europe, the compact segment is a key part of Stellantis' European strategy, he added.

Both the future Astra and Corsa models will be based on Stellantis' STLA One platform, designed to underpin a new range of electrified ​vehicles across the group, whose brands also include Fiat, Peugeot and Jeep.

Last month, Stellantis set out a 60-billion-euro strategic overhaul, including production partnerships with Chinese groups Leapmotor and Dongfeng.

($1 = 0.8656 euros)

(Reporting by Rachel MoreEditing by Madeline Chambers)