At the Geneva International Motor Show, Opel CEO Karl-Thomas Neumann first had to introduce his new boss, who heads French car maker PSA. From now on the French hold the reins. They decide which models have a future.
French car maker PSA is reportedly seeking a refund from General Motors (GM) after discovering it was allegedly misled about Opel's emissions challenges prior to the acquisition of the German car maker.
The new owner of Opel-Vauxhall says it won't begin involuntary layoffs at the loss making carmaker it bought from GM. The restructuring plan will see factories remain open and the brand expand to 20 new export markets.
The EU competition authority has agreed to Peugeot PSA's takeover of Germany's Opel, creating Europe's second-largest carmaker after Volkswagen. In March, PSA agreed to buy Opel from General Motors for 2.2 billion euros.
The French carmaker has completed its takeover of GM's European subsidiaries ahead of time, naming a new management to chart an attempted turnaround for the two struggling brands.
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