Opel Update

PSA Automobiles SA has announced an update regarding its acquisition of Opel, the German car manufacturer. PSA Automobiles SA, the French carmaker which owns brands such as Peugeot and Citroen, acquired Opel from General Motors in March 2017.

Since the acquisition, there have been various updates and changes in the operations of Opel. Here are some of the most significant ones:

• New Strategy: PSA has implemented a new strategy for Opel, focused on making the company profitable again. This involves reducing costs and simplifying the range of vehicles offered.
• New Leadership: Along with the new strategy, PSA also brought in a new leadership team for Opel. Michael Lohscheller was appointed as CEO, and has been instrumental in implementing the new strategy.
• New Car Models: Despite reducing the range of vehicles, Opel has also introduced some new models since the acquisition. These include the electric Corsa-e and the Grandland X Hybrid4.
• New Manufacturing Partnerships: PSA has entered into manufacturing partnerships with other companies to improve efficiency and reduce costs. For example, Opel will now use PSA's engine plant in Hungary to produce engines for its own vehicles.
• New Markets: With PSA's support, Opel has also been able to expand into new markets. For example, it has announced plans to enter the Australian market in late 2021.

It seems that PSA's acquisition of Opel has been a positive move for both companies. The new strategy and leadership, combined with new models and manufacturing partnerships, have put Opel on a path to profitability.