General Motors

GM news of the day: SolarWorld, the Germany-based maker of solar photovoltaic systems, has unveiled plans to take over the German factories of the Detroit automaker's troubled Opel unit. The goal: to convert the cash-starved Opel into "Europe's first green automobile maker," focusing on creating the next generation of fuel-efficient, low-emissions vehicles.

The announcement has "stunned investors in Germany," said CNN.

Things are going from bad to worse for the US auto industry. Especially for GM. The latest:

The company announced that it will close two SUV plants in Wisconsin and Ohio on December 23. That's two years ahead of schedule. Combined job losses: about 2,500.

On top of that, it will shutter a metal stamping plant in Michigan by the end of ‘09. Job losses: about 1,340.

More closures are coming. And a merger with Chrysler could be too. God knows, the resultant job losses would be mammoth.

So what happened?

America’s long love affair with the SUV is officially dead, it seems.

This morning, Toyota announced that it’s dumping plans to produce the Highlander SUV at its brand-new plant in Mississippi. Instead, the factory will churn out the next generation of Prius Hybrids.

The decision reflects the exploding demand for hybrids and the plummeting market for SUVs and trucks, said Toyota.

Detroit’s Big 3 automakers may finally be gearing up for the auto efficiency age.

Too bad it took so friggin’ long.

Last week, international consulting firm Global Insight, predicted that the Big 3 will have to pay over twice as much as Japan’s top three automakers to meet America’s interim fuel economy standard of 31.6 mpg by 2015.

About $30.6 billion compared with $14.85 billion. And General Motors alone will have to spend $15 billion.

It’s obvious why.