PSA acquires Opel to battle Volkswagen

On March 6, it was announced that the PSA Group will acquire Opel from General Motors (GM) for 2.2 billion euros.

As a result, the PSA Group has become the second largest automotive group in the European market next to Volkswagen.

GM’s Chairman and CEO Mary Barra said, “We believe this new chapter puts Opel in an even stronger position for the long term.”

The PSA Group’s Chairman Carlos Tavares said, “We are confident that the Opel turnaround will significantly accelerate with our support.”

Written by Minoru Moriwaki

(Translated by Masayuki Shikata)