Economy, Auto
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PSA Will Present Opel Plan in November

PSA is considering moving the production of electric vehicle components back to within the company.PSA is considering moving the production of electric vehicle components back to within the company.

PSA Group will present a restructuring plan for its Opel brand in November. CEO Carlos Tavares said PSA will urge Opel to improve its sales to individual customers.

He also said it is hard to decide upon strategy for Opel’s UK sister brand, Vauxhall, given lack of clarity over Brexit, Automotive News Europe reported.

Separately, PSA is considering moving the production of electric vehicle components back to within the company, its strategy head, Patrice Lucas, said,

“We are having some thoughts regarding ‘make or buy’ concerning the electric chain of motors. We will move the components part back to within the company, but not the battery chemicals part,” Lucas said at the Frankfurt auto show on Tuesday.

Frankfurt Motor Show, one of the largest international automotive events, is an ongoing seven-day event held in the central German city. The show started on September 12.

PSA said it aimed to finalize a car financing deal with bank BNP Paribas by the end of the fourth quarter. Earlier this year, BNP Paribas announced the acquisition of Opel/Vauxhall’s financing arm for 900 million euros ($1.1 billion) with PSA.

The acquisition was announced alongside PSA’s agreement to buy Opel from General Motors in a deal valuing the brand at 2.2 billion euros.

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