March 14, 2019 / 8:50 AM / 7 months ago

PSA Group's Opel to resume production in Russia in fourth-quarter

BERLIN (Reuters) - French carmaker PSA Group’s Opel said on Thursday it would resume production at a factory in Kaluga, Russia, in the fourth quarter after exiting the Russian market in 2015.

Opel said it would start selling three models in Russia this year, with two to be produced at the Kaluga site. Opel added that it aimed to expand its presence in Russia and soon offer further models.

“Russia is a big, strategically important and attractive market with a lot of potential,” Opel Chief Executive Michael Lohscheller said in a statement.

The Opel brand was withdrawn from Russia by its then owner General Motors in 2015, at the height of a crisis in the country’s car market due to a sharp depreciation in the rouble. PSA bought the Opel and Vauxhall brands from GM in 2017.

Reporting by Riham Alkousaa; Editing by Michelle Martin

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