Report: Opel Might Become an EV-Only Brand if PSA Sale Falls Through

Months before GM entered talks with PSA Group about selling Opel, the European marque’s CEO Karl-Thomas Neumann was working on a plan to turn the company into an electric car brand, according to a report from German publication Manager Magazin.

Neumann was working on his EV strategy when GM began discussing a potential sale of Opel and Vauxhall to French automaker PSA Group. The report says the CEO was worried Opel would not have the resources under GM ownership to pursue both internal-combustion and electric powertrains.

Neumann’s plan would see the platform underpinning the Opel Ampera-e, the sister model to the Chevrolet Bolt EV, spread to future Opel EV models. As we’ve previously reported, Germany has proposed banning internal-combustion cars by 2030 in order to meet the climate goals set last year in Paris. Neumann is betting that proposal will pass, and therefore is looking to split Opel into “old” and “new” halves, with the EV models presumably placed in the “new” basket.

 

Senior executives, including Neumann, may have known about the talks between GM and PSA Group beforehand, but top managers were reportedly surprised by the announcement that discussions of a potential acquisition were underway. GM is considering selling its European brands due to suffering continual losses in the region.

GM’s board was due to review Neumann’s plan in May. If the sale goes through, however, it’s unclear what happens to the plan, or Neumann.

Source: Manager Magazin via Automotive News (Subscription required)

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