You must have an Automotive Newssubscription to view the digital edition
Click here to subscribe
PSA envisages production capacity of 900,000 electric motors annually by 2022 from its joint venture with Nidec to produce motors for EVs, plug-in hybrids and mild hybrids.
Said PSA's Carlos Tavares: "We are moving from a world where the center of decision is Detroit to a world where the center of decision is not Paris, it's Ruesselsheim."
PSA, which bought GM's European operations, now wants about half of the money back because Opel's engines are too inefficient to meet CO2 emissions reduction targets, sources told Reuters.
PSA Group's purchase of Opel/Vauxhall from General Motors was a blockbuster deal that jolted the industry and changed the course of two storied automakers.
While PSA Group works on fine-tuning its mobility services in the United States, it is learning from at least one failed operation launched in Europe.
Opel's export push could mean vehicle production in PSA's plants in China, Russia and Iran, and even sales in the U.S., the home market for GM, the German brand's former owner.
Opel detailed the former GM division's first business plan under new owner PSA, promising to launch EVs including a full-electric Corsa and move to PSA platforms sooner than planned.
Opel's first business plan under its new French owners, PSA, will set out how the German automaker will reach profitability that has eluded the former GM division since 1999.
PSA's new app needs government and ride-hailing partners to make it successful.
Sept. U.S. sales winners, losers; Hackett's plan to transform Ford; PSA's U.S. mobility app; Texas dealer Gilchrist in line to lead NADA in '19; Lear puts down stakes in Buick City.
French automaker PSA introduced its mobility services platform in Seattle as part of a long-term strategy to re-enter the North American market.
Tina Mueller was a bright spot in Opel's management, having revived what was perceived to be a bankrupt brand in Germany.
Automotive NewsJobs Board
Get unrivaled coverage, expert analysis and unparalleled insights. Subscribe today for $1.52 per week. Hurry - this holiday offer ends December 15.
Sign up today to get the best of Automotive News delivered straight to your email inbox, free of charge. Choose your news – we'll deliver.
Entire contents © Crain Communications, Inc.
Use of editorial content without permission is strictly prohibited. All Rights Reserved.