French carmaker moves swiftly to stamp authority on Opel, Vauxhall
Frankfurt
PSA Group put new managers in place at Opel and Vauxhall on Tuesday, completing a 2.2 billion euro (S$3.5 billion) takeover which helps the French company to become Europe's second-largest carmaker by sales.
General Motors is selling off its loss-making European operations to the owner of the Peugeot, DS and Citroen brands, which has a better track record of profitability in the business of manufacturing small cars in Europe.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Toyota is investing US$1.4 billion to build another all-electric SUV in US
Airbus net profit soars 28% in first quarter
AirAsia discloses new listing plans under RM6.8 billion units merger
Baltimore’s trapped ships start leaving as new channel opens
S&P slashes Boeing credit outlook as rating hovers above junk status
Honda to spend US$11 billion on EV strategy in Canada