Peugeot owner: Hard Brexit ‘could be opportunity’ for supplier base

Listen to this article

00:00
00:00

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

Copyright The Financial Times Limited 2017. All rights reserved. You may share using our article tools. Please don't copy articles from FT.com and redistribute by email or post to the web.