Opel will reduce the number models it sells to concentrate on high-margin segments and will also develop electric expertise for PSA Group, Frankfurter Allgemeine Zeitung reported.
Country ranch Úžice (near Prague) hosted national premiere of the new Opel Grandland X on October 31, 2017. The car was introduced by Opel country manager Pavel Šilha. He was assisted by PR manager Martin Hejral and product manager Tomáš Zahel.
PSA Group completed its takeover of the Opel and Vauxhall brands from General Motors on Tuesday, installing new managers and helping PSA to become Europe’s second-largest carmaker by vehicle sales.
PSA Group secured unconditional EU antitrust approval on Wednesday to acquire General Motors’ German unit, Opel, a move that will make it Europe’s second-largest automaker after Volkswagen Group.
General Motors’ European division Opel is losing its CEO, Karl-Thomas Neumann, just as it prepares to be acquired by PSA Group, a move that could see Neumann rejoin Volkswagen Group to run its Audi division.
Volkswagen Group is looking at rehiring Opel CEO Karl-Thomas Neumann, possibly to lead its Audi brand, a source familiar with the matter told Reuters, following a report that Neumann will quit Opel.
Opel will use PSA Group’s technology in the next generation of its Corsa subcompact car, a company spokesman said, confirming a newspaper report. The current Corsa is built with technology from General Motors, which has agreed to sell Opel and UK sister brand Vauxhall to PSA.
General Motors will pay Opel’s senior managers million-euro bonuses following the sale of the German brand to PSA Group, regardless of whether the executives remain with the company, a report said.
The transaction of PSA and Opel joint venture will allow substantial economies of scale and synergies in purchasing, manufacturing and R&D. Annual synergies of €1.7 Bn are expected by 2026 – of which a significant part is expected to be delivered by 2020, accelerating Opel/Vauxhall’s turnaround.
PSA Group agreed to buy General Motors Co.’s Opel unit in a transaction valued at 2.2 billion euros ($2.3 billion), creating Europe’s second-largest carmaker in a bid to better compete in the region’s saturated market.
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