Another part of Opel could trade hands by the end of this year. French automaker, PSA Groupe, is reportedly looking at selling off a portion of the German brand’s research and development unit, Le Monde newspaper reported, via Reuters, on Tuesday.
The sale of Opel’s R&D unit would include four sections of the department valued at $583 million: Vehicle Engineering, Propulsion Engineering, Tool & Die Operations and the test center. The sections also include Opel’s Russelsheim headquarters.
In total, 3,980 people are employed in the various departments and PSA Groupe has already approached four firms to potentially iron out a deal. Three firms are French and one is German.
PSA Groupe hopes to return the Opel unit to profitability in the coming years, and selling off the brand’s R&D unit would move the brand closer towards the black. With the possible sale, it’s clear PSA Groupe has few plans to keep Opel and Vauxhall models distinct from Peugeot or Citroen’s engineering.
General Motors closed the sale of Opel and Vauxhall to PSA in 2017, which effectively ended GM’s volume-selling business in Europe after decades.