MUNICH/DETROIT (Reuters) – General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) pushed aside another chief executive at Opel as it moves to reverse 12 years of losses in Europe.

GM said Opel CEO Karl-Friedrich Stracke had stepped down to take on “special assignments” for GM CEO Dan Akerson. GM Vice Chairman Steve Girsky, who heads Opel’s board, will serve as acting head of Europe while GM searches for a successor to Stracke.

DETROIT (Reuters) – Once a high-flying green technology company, battery maker A123 Systems Inc on Friday told investors it has about five months of cash left to fund operations, adding to woes for a sector short on results and long on government loans.

The company, which received a $249 million grant from the Obama administration as part of a program to develop advanced lithium-ion batteries, said in documents filed with U.S. regulators that it “expects to have approximately four to five months of cash to support its ongoing operations” based on its recent monthly spending average.

DETROIT, July 6 (Reuters) – A123 Systems Inc on
Friday said it has up to five months of cash to fund operations
after announcing two moves to raise about $39 million, sending
shares down more than 11 percent.

The company, which received a $249 million grant from the
Obama administration as part of a program to develop advanced
batteries, said in documents filed with U.S. regulators that it
“expects to have approximately four to five months of cash to
support its ongoing operations” based on its recent monthly
spending average. A123 previously raised concerns about its
viability due to expected steep losses over the next several
quarters.