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PSA may move production of electric vehicle components back in-house
September 12, 2017 / 8:24 AM / 2 months ago

PSA may move production of electric vehicle components back in-house

FRANKFURT (Reuters) - French carmaker PSA (PEUP.PA) is considering moving the production of electric vehicle components back to within the company, a PSA director told Reuters on Tuesday.

“We are having some thoughts regarding ‘make or buy’ concerning the electric chain of motors, we will move the components part back to within the company, but not the battery chemicals part,” said PSA executive Patrice Lucas at the Frankfurt car show.

He added PSA would present a restructuring plan for its Opel brand in November, and that it aimed to finalize a car financing deal with bank BNP Paribas (BNPP.PA) by the end of the fourth quarter.

Earlier this year, BNP Paribas announced the acquisition of Opel/Vauxhall’s financing arm for 900 million euros ($1.1 billion) with PSA.

The acquisition was announced alongside PSA’s agreement to buy Opel from General Motors (GM.N) in a deal valuing the brand at 2.2 billion euros.

Reporting by Gilles Guillaume; Writing by Sudip Kar-Gupta; Editing by Mark Potter

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