France's PSA wants to be 'European car champion' with Opel

The chairman of French carmaker PSA Group wants to create a "European car champion" with the potential purchase of General Motors' European car business, and pledged to work with governments and unions worried over job cuts.

After reporting a near-doubling in 2016 profits, Carlos Tavares lauded the benefits of a deal that could reshape the continent's car market and see PSA, the maker of Peugeot and Citroen cars, leapfrog the Renault Nissan alliance to become Europe's No. 2 carmaker behind Volkswagen.

Speaking in Paris Thursday, Tavares said PSA's ambition to buy GM's loss-making German subsidiary Opel and its British brand Vauxhall is rooted in his company's...