Peugeot CEO Carlos Tavares announced Wednesday that the French carmaker would use the know-how of former engineers of Opel acquired from GM to develop new vehicles to re-enter the United States auto market. He added that Peugeot would have electric vehicle options for car buyers on all lines of vehicles it makes by 2025.
During a speech in Detroit to the Automotive News World Congress that was full of auto executives, Tavares outlined the ambitious plan to help push the automaker into row one of the technology race taking place within the auto industry.
He is planning to use the acquisition from 2017 of the European Opel and Vauxhall operations of GM as a springboard for worldwide expansion.
Global carmakers have announced investments of $90 billion to electrify their future vehicles as a way to comply with the regulations governments are making to curb the carbon dioxide emissions.
Tavares said that by 2030, 80% of Peugeot’s vehicles would offer an auto pilot function under certain limited condition, as well as 10% would have autonomous driving capabilities.
Peugeot left the U.S. auto market over 20 years ago, as Japanese competition ran them out and tastes by consumers shifted. Tavares, the former executive with Renault-Nissan, who took the company over in 2014, has outlined plans previously to slowly make re-entrance into the U.S. auto market, beginning with ride services.
In 2017, Tavares acquired the European operation of Opel from GM after GM made the decision to divest the operations that were losing money.
On Wednesday, Tavares outlined a process of three steps for re-establishing the automaker’s presence in the U.S., the second largest worldwide auto market and compete on the home turf of GM.
Peugeot has already started offering ride services in the U.S. through its brand Free2Move, using cars from other companies.
Mobility is the heart of its strategic plan added Tavares. Next, he said will come their ride services that will use Peugeot vehicles and the third step will be to sell their vehicles in the U.S. that will be designed by the former engineers at Opel that worked for General Motors.