By adding the Opel and Vauxhall brands to its arsenal, PSA reportedly will become the second-largest European automaker, with 17 percent market share. PSA believes it will return Opel to profitability by 2020 by slashing research and development costs and sharing components across its brands.
Category: General Motors
Francea s PSA wants to be a European car championa with Opel
The chairman of French carmaker PSA Group wants to create a “European car champion” with the potential purchase of General Motors’ European car business, and pledged to work with governments and unions worried over job cuts. After reporting a near-doubling in 2016 profits, Carlos Tavares lauded the benefits of a deal that could reshape the continent’s car market and see PSA, the maker of Peugeot and Citroen cars, leapfrog the Renault Nissan alliance to become Europe’s No.
Vauxhall workforce highly valued, minister told at talks on French takeover plan
The owner of Peugeot said it could buy Vauxhall and Opel from General Motors in a deal that would transform Europe’s car market Vauxhall’s brand and “committed workforce” are highly valued, Business Secretary Greg Clark has been told during crunch talks in Paris over the future of thousands of British production jobs. The minister travelled to the French capital on Thursday to meet French industry minister Christophe Sirugue and board members of PSA Group, which is in talks to acquire General Motors’ loss-making European operation.
Vauxhall has plants in Ellesmere Port and Luton employing 4,500 staff
Business secretary Greg Clark will meet with Peugeot executives and the French government as he scrambles to secure thousands of British jobs at takeover target Vauxhall. The Press Association understands Mr Clark will travel by Eurostar to Paris tonight for separate meetings with French industry minister Christophe Sirugue and board members of PSA Group, which is in talks to acquire General Motors’ loss-making European operation.