Vauxhall is launching an electric version of its Corsa hatchback as part of the company’s drive to return to profit by 2020.
According to Carbuyer, the forthcoming electric Corsa, plus a plug-in hybrid version, will be among four new electrified models that will join the Vauxhall line-up by 2024.
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The company will also share more parts from other firms under the PSA group, such as the EMP2 production platform that underpins the Peugeot 308, to speed up manufacturing and reduce costs, the website says.
Michael Lohscheller, CEO of Opel/Vauxhall, said: “This plan is paramount for the company, to protect our employees against headwinds and turn Opel/Vauxhall into a sustainable, profitable, electrified, and global company.”
“Aligning architecture and powertrain families will substantially reduce development and production complexity, thus allowing scale effects and synergies, contributing to overall profitability,” he added.
According to Autocar, Vauxhall and Opel declared losses of £190m in the second quarter of 2017.
In order to return to profitability, Lohscheller is aiming to save €1.1bn (£980m) by 2020 through synergies between the PSA Group and Vauxhall and Opel, and €1.7bn (£1.5bn) by 2026, reports the magazine.
Lohscheller said the profitability plan will not see any forced redundancies or closures at plants in Europe, including the Ellesmere Port factory, in Cheshire.
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