emfizz.com January 19, 2018

Opel will go profitable, electric and global, according to PSA's plans

10 November 2017, 01:12 | Jan Cross

Vauxhall's profitability plan: electric Corsa, Grandland X PHEV and nine new models due by 2020

Opel reveals new strategy under PSA Group guidance

The Vauxhall/Opel PACE! recovery plan aims for profitability for Vauxhall/Opel by 2020 - the first time since 1999.

PSA is aiming for 1.7 billion euros of annual synergies by 2026 and 1.1 billion euros by 2020. All actions will contribute to a lower financial break-even point for Opel/Vauxhall of 800,000 vehicles, creating a profitable business model whatever the headwinds may be. In order to achieve that Opel will go the way of electrification, with pure battery or plug-in hybrid versions next to the "efficient internal combustion engines".

In the announcement, made by newly appointed chief executive of Opel Automobile GmbH, Michael Lohscheller, the firm said all passenger vehicle lines will be electrified by 2024, offering a pure battery electric propulsion or plug-in hybrid version, alongside efficient internal combustion engines.

Opel-Vauxhall CEO Michael Lohscheller, who was given 100 days by the new owners to draw a map to drive the firm out of the red, laid out measures to boost competitiveness and cut costs by "700 euros per car" in three years.

However, as the Vauxhall models move over to use PSA engines and platform technology, the deal with the Renault/Nissan Alliance is expected to come to an end, but Citroen and Peugeot vans could well be built in Luton.

As Opel and Vauxhall's factories are equipped to make cars based on PSA platforms, it's said they could also produce Peugeot, Citroen and DS models. To start with, an EMP2-based SUV is planned for Eisenach in 2019; and an EMP2-based D-segment vehicle is coming to Rüsselsheim.

Twitter suspends verification program after white supremacist rally organizer gets blue check
People can apply for verification by submitting basic identifying information to Twitter . About a week later, Kessler tweeted "Heather Heyer was a fat, disgusting Communist .

Taylor Swift Wins CMA Award for Song of the Year
In fact, between 2007 and 2013, Swift won 11 Country Music Association Awards and was nominated for 14 more. The 51st Annual CMA Awards are hosted by Brad Paisley and Carrie Underwood for the 10th year in a row.

Tata Motors profit jumps 3-fold to Rs. 2483 cr
EBITDA margin was 11.8 per c4nt and EBIT margin was 5.2 per cent in the quarter. Speth concluded: "Our product portfolio continues to excite and surprise".

With Opel having lost around US$10 billion ($13 billion) and shed 30,000 jobs over the last 15 years, stemming the tide of red ink is one of management's more immediate tasks.

“PACE! will unleash our full potential.

"We have a real opportunity to rescue this company", PSA chief executive Carlos Tavares told a press conference at Opel's historic Ruesselsheim headquarters near Frankfurt.

Lohscheller said the profitability plan will not see any forced redundancies or closures at plants in Europe, including the Ellesmere Port factory, in Cheshire.

All new Opel/Vauxhall vehicles will be engineered in Rüsselsheim, which will be transformed into a global competence centre for the whole Groupe PSA. This will further guarantee German engineering quality and affordable innovations. More so, for efficiency the total number of platforms will be dropped from nine to just two, while powertrain ranges will be downsized from ten to four. Furthermore, the powertrain families will be optimised from now 10 to 4.

Other News

Trending Now

Khulna-Kolkata train services launched
Bandhan express will strengthen the relationship. "I look forward to working with you in our joint endeavour to that end". Chief Minister Mamata Banerjee described the launch of the projects as a remarkable day for India and Bangladesh.

Trump Seeks Billions of Dollars to Counter North Korean Missiles
Speaking in Tokyo on Monday, Trump renewed his warning that the "era of strategic patience" with North Korea was over. Nuclear-armed North Korea has lashed out at the military muscle-flexing, which it calls a rehearsal for invasion.

Apple just pushed an iOS update to fix that "I" autocorrect bug
Once you do that, let the update download and when it does, follow the instructions provided on the screen to install it. The iOS 11 update will brick thousands of older apps that haven't been updated to support 64-bit processors.

Ronaldo Set for Stunning £75million Manchester United Return
Don Balon reports that the player will be granted the return to Old Trafford he craves with a fee of £75million being suggested. NEYMAR'S father has reportedly met with Real Madrid president Florentino Perez about replacing Cristiano Ronaldo .

Bitterroot Valley to honor veterans
American Legion Post 40 will host a Veterans Day Dinner on Saturday, Nov. 11 at the Cut Bank Moose Lodge in Cut Bank. This invitation was accepted by more than 35 community veterans. "This year's guest speaker is U.S.

Taylor Swift to perform new song during ABC's 'Scandal'
Remember, it's been a good seven years since a show created exclusively by Rhimes has aired - she's probably got some good ideas. Swift removed her music from streaming platforms shortly before the release of "1989", decrying the services' royalty payments.

Xbox One X: Microsoft 'not leaving current players behind'
Tommy T999 tells us: "To the naked eye of the average gamer there's little to choose between the two". The PowerA stand is now available for preorder via Amazon , priced at $14.99 in the United States.

TSA screenings fail to spot weapons most of the time, agency says
Inspectors revealed their results on Wednesday to the House Committee on Homeland Security during a classified briefing. In that test, operatives successfully smuggled both fake weapons and fake explosives through airport security.

Vodafone and Cityfibre bring gigabit-speed fibre to the UK
The agreement only addresses the consumer side with Vodafone and they have some exclusivity during the build cycle. The first towns and cities will be announced early next year.

Luxembourg economy seen growing faster than eurozone's
Romania's 2017 budget is built on projections for 6.1% economic growth and deficit equivalent to 2.96% of GDP. The EC said growth this year is supported by private consumption and rebounding investment.