General Motors Chief Executive Officer Mary Barra reportedly assured Opel employees and stakeholders that the carmaker will remain an independent company if a deal is reached to sell the unit to French automaker PSA Group. The report comes from German publication Manager Magazin, citing sources close to the two automakers. What “remaining independent” will mean in terms of operational structure and other details, however, is still rather unclear at the moment.
The news comes as GM and PSA are in ongoing negotiations that could result in PSA buying GM’s European Opel and Vauxhall brands along with the associated operations. The development could have significant ramifications on both automakers as well as the global auto industry.
The latest development to come from the negotiations is that Opel was valued at $2 billion in the sell-off discussions.