(Corrects to attribute quote to Jean-Philippe Peugeot,
FRANKFURT, March 19 (Reuters) - PSA Group's
acquisition of General Motors division Opel gives the
French carmaker greater scale to pursue global expansion plans,
family shareholder Jean-Philippe Peugeot told German paper Welt
Earlier this month, PSA Group agreed to buy Opel from GM in
a deal valuing the business at 2.2 billion euros ($2.3 billion),
helping the French firm to become Europe's second largest
automaker by sales.
"This will allow the group to conquer the rest of the world
step by step. This remains an important goal for PSA,"
Jean-Philippe Peugeot said in a joint interview together with
his cousin Robert Peugeot.
The Peugeot family clan controls 22.19 percent of PSA
Group's voting rights, and 13.68 percent of the company's
Although there are larger automotive companies measured by
absolute annual sales, what counts is that you have at least
three million vehicles produced in one core market to get real
economies of scale, Robert Peugeot, who is chairman of PSA
Group's strategy committee, told the paper.
"All large carmakers have a volume of three million cars in
one important market," Robert Peugeot told Welt am Sonntag,
explaining that the purchase of Opel will help PSA Group in this
Although the combination of the German and French carmakers
increases the group's overall exposure to Europe, the brands
"Opel is strong in markets where PSA is not so strong,"
Robert Peugeot said, explaining that Opel sells more cars in
Germany than Peugeot, DS and Citroen combined, while Vauxhall
sells more cars in Great Britain than all of PSA's brands
"There is very little cannibalisation between the brands,"
Robert Peugeot said.
A deal between the French and the Germans has been under
consideration for years, even before 2012 when GM and Peugeot
signed a deal to develop some passenger cars together, Robert
Peugeot's cousin Jean-Philippe told the paper.
"Our family thought about getting closer to Opel even before
the agreement with General Motors," Jean-Philippe Peugeot said,
adding that the time wasn't right back then.
(Reporting by Edward Taylor and Gilles Gulliaume. Editing by