US car giant General Motors and the French PSA group are in “advanced discussions” over the sale of GM’s European operations, according to a report filed by Reuters.
The news agency reports that the talks could lead to Opel and its UK market iteration Vauxhall being sold by GM to PSA. Sources close to the matter told Reuters that a deal could be announced within days.
PSA – the group behind Peugeot, Citroen and DS cars – already has dealings with Opel and is currently supplying the GM brand with components. For instance, the upcoming Vauxhall Grandland X - a new C-segment SUV headlining Vahxuall’s SUV boom - will sit on a PSA platform. It’ll get the EMP2 architecture underpinning the Peugeot 3008 and 5008 models, and could event be built at Peugeot’s factory in Sochaux, France, alongside those two models.
• Vauxhall Crossland X details
In an official statement, PSA Group said “General Motors and PSA Group regularly examine additional expansion and cooperation possibilities”.
The group also confirmed that “together with General Motors, it is exploring numerous strategic initiatives aiming at improving its profitability and operational efficiency, including a potential acquisition of Opel / Vauxhall”.
However, PSA also made it clear that “there can be no assurance that an agreement will be reached.”
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