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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
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.
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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.
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