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
Tesla lays off more staff in software, service teams, Electrek reports
GLP says 2025 bond repayment sources identified
Volvo Cars April sales rise on strong EV demand
EV automakers get reprieve in US tax credit rules
Abu Dhabi hub carrier Etihad adds banks to US$1 billion IPO
Luminar to cut nearly 20% jobs as part of restructuring