February 22, 2017 / 7:05 PM / 9 months ago

Peugeot sets sales and savings goals for Opel deal: sources

LONDON/FRANKFURT/PARIS (Reuters) - French carmaker PSA Group (PEUP.PA) expects its planned acquisition of General Motors’ (GM.N) Opel division to lead to combined sales of 5 million vehicles by 2022 and save as much as 2 billion euros ($2.1 billion) annually, as the talks advance towards a likely deal in early March, sources told Reuters.

The logo of Peugeot is seen at a dealership of the brand in Strasbourg, France, February 14, 2017. REUTERS/Vincent Kessler

PSA also plans to make swift progress on technical convergence with GM’s European arm, bringing new Opel models such as the popular Corsa mini onto the Paris-based manufacturer’s own vehicle architectures to slash duplication, two people with knowledge of the matter said on Wednesday.

Paris-based PSA and GM confirmed last week they were in talks over a PSA-Opel tie-up to create Europe’s second-largest carmaker by sales after Volkswagen (VOWG_p.DE).

Reporting by Pamela Barbaglia, Arno Schuetze and Gilles Guillaume; Writing by Laurence Frost; Editing by Mark Potter

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