Deals
PSA Chief Lays Out Vision for `European Champion' With Opel Deal
- French carmaker has cash to invest after painful revamp
- GM’s European Opel-Vauxhall unit ‘needs help,’ Tavares says
PSA CEO Speaks to U.K.'s May, Germany's Merkel About Jobs
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PSA Group laid out its vision for integrating General Motors Co.’s struggling European operations, including slashing costs, combining development efforts and exploiting the appeal of German engineering.
Chief Executive Officer Carlos Tavares vowed to revive GM’s Opel unit by carrying out a similar restructuring that brought the maker of Peugeot and Citroen cars back from the brink over the past three years. Opel, based outside Frankfurt, could in turn serve as a growth driver with potential expansion beyond its home region, a role that was limited under GM.