Peugeot parent wants half of the Opel price tag back from GM in emissions dispute
Paris — Peugeot maker PSA Group, which paid General Motors €1.3bn for Opel, now wants about half of the money back after discovering the full extent of its carbon dioxide emissions challenges and exposure to European fines, sources told Reuters. PSA, which completed the acquisition in late July, said earlier this month it would need to move Opel models onto its own, more fuel-efficient technology faster than planned, in order to cut carbon dioxide emissions before new EU limits are phased in from 2020-21, backed by hefty penalties. The French car maker has told GM it believes it is owed more than €500m and intends to pursue a legal claim on the grounds that it was misled about Opel’s emissions strategy, two people familiar with the matter said. PSA is seeking €600m-€800m, according to one. The companies have discussed the grievances raised by PSA, which has yet to initiate a formal claim, sources close to both manufacturers said. GM spokesman David Caldwell declined to comment when ...
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