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A hard Brexit would likely hurt the UK car market, but could bring some fringe benefits, the chief executive of Peugeot-owner PSA said on Monday.

Speaking after announcing plans to buy General Motors’ lossmaking Opel division, PSA chief Carlos Tavares said tough terms for leaving the EU could be an “opportunity” for Vauxhall and PSA to develop a supplier base in the UK to give the whole operation a “pound cost structure”.

“[There is] the opportunity to have inside of the UK some manufacturing plants in case we have a hard Brexit,” he said. “All of this represents opportunities that we want to tackle.”

Read more: The UK’s struggle to redesign trade relationships in charts

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