France's government has secured its recently granted state aid in PSA greater influence. Now the state apparently crossed the redevelopment plans, the PSA and GM have forged together.
General Motors and PSA Peugeot Citroen have put their talks on closer cooperation put on hold. As the Reuters news agency claims to have learned from company sources, are the guarantees provided by the French government recently the main reason for the stop of the talks. The second reason the insider had given the deteriorating financial situation of the French car manufacturer.
Closer cooperation at the earliest in 2014
Because of the provided state guaranteed sum of seven billion euros, the two auto companies could no longer freely negotiate capacity adjustments. Because France will decide the future of the PSA Board and wants to avoid layoffs in large scale and reach location guarantees for PSA plants. But only at Opel drastic personnel action would be recognized in this country cause strong political resistance. According to an informant therefore closer cooperation is now drawn after 2014 into account as soon as the European car market has recovered significantly.
According to Reuters, GM and PSA discussed among other things the possibility to transfer Opel into a joint venture in order to stay out of the loss-making division of the GM balances can. In order to compensate for this new company, the first losses and allow restructuring, Detroit Opel would want to give a check for the equivalent of about 3.9 billion euros.
PSA is disappointed
According to the Financial Times Germany PSA is unhappy with the alliance. The French had hoped for from Detroit greater support for the expansion of China and Latin America business. General Motors, however, only interested in gaining a partner in rehabilitating its European business. "It is not impossible that the alliance fails," the paper quoted from group-related circles.
Four new vehicle platforms planned
Opel confirmed Meanwhile on Wednesday, the intention to develop, together with PSA initially four new vehicle platforms. The first cars should earlier reportedly come to the end of 2016 to the market. Through collaboration - especially in shopping - the companies want to save together after five years at around 1.5 billion euros annually. The consequences for the existing plants and employees, however, were not yet identified in detail. The decision will be at which locations in the future and develop the cars produced is apparently not yet been made final. In the joint projects is a van, two small cars and mid-range cars.
In mid-October it was revealed that talk about GM and PSA, in a second phase in March forged Conservation Alliance may merge their European vehicle production.
Already been agreed upon, is that the French side takes over from 2013 logistics services.
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