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According to reports by Reuters and Deutsche Press Agency (DPA), General Motors (GM) is planning to sell its European brands – Opel and Vauxhall – to the PSA Group, which owns companies like Peugeot, Citroën and DS.
Reports suggest that talks between GM and PSA are already at an advanced stage, wherein PSA Group is likely to acquire a majority stake in GM’s European brands like Opel and Vauxhall. The transfer of ownership of these brands is likely to affect their operations in the continent significantly. However, there’s no confirmation from GM yet.
Previously, the PSA Group has confirmed that it was in talks with GM, but the company says that its involvement with Opel and Vauxhall is part of plans, which will lead to development of various new models. The new cars resulting from the tie-up will share common underpinnings and components.