PSA Group shareholder Jean-Philippe Peugeot believes the acquisition of Opel means that global expansion plans are more within reach.
The deal to purchase Germany-based Opel and its Vauxhall UK division from GM went through earlier this month, as PSA ended up spending 2.2 billion euros ($2.3 billion) in an attempt to grow their own business.
“This will allow the group to conquer the rest of the world step by step. This remains an important goal for PSA,” said Jean-Philippe Peugeot during a joint interview to Autonews with his cousin Robert Peugeot.
As of right now, the Peugeot family controls 22.19% of PSA Group’s voting rights, as well as 13.68% of the company’s capital. Also, China’s Dongfeng Motor and the French government each have 13.68% stakes.
While there are larger automakers out there, what’s really important for a brand is to have at least 3 million vehicles produced in a single market, added Robert Peugeot in an interview with German newspaper Welt am Sonntag.
“All large carmakers have a volume of three million cars in one important market. Opel is strong in markets where PSA is not so strong,” he said, while adding that Opel sells more cars in Germany than Peugeot, DS and Citroen combined, whereas Vauxhall also sells more cars in Great Britain than all of PSA’s brands together.
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