PSA Demands Refund On Opel Purchase Claiming Outdated GM Technology

PSA Group, which paid General Motors 1.3 billion euros ($1.54 billion) for GM's European operations, now wants about half of the money back because Opel's engines are too inefficient to meet CO2 emissions reduction targets, sources told Reuters.

PSA said earlier this month it will need to move Opel models onto its own more fuel-efficient technology faster than planned to cut CO2 emissions before new EU limits are phased in from 2020-21, backed by hefty penalties.

PSA has told GM it believes it is owed more than half a billion euros 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.

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TomM - 11/30/2017 5:01:57 PM

+1 Boost

Good Luck on that one
GM has already spent billions on retirement fees and I doub't they will even consider this one - which I find hard to believe anyway.

qwertyfla1 - 11/30/2017 7:47:05 PM

+1 Boost

Sold "as is where is" suckers!

MDarringer - 11/30/2017 10:54:14 PM

+1 Boost

Even if Opel had been perfect, PSA would have been stupid to buy it. It hope it bankrupts PSA.