GM Keeps Gaining on Driverless Cars and Possible European Merger

GM’s sale of British-based Vauxhall and German-based Opel to PSA could help its shares rise by 35%, according to a Sunday Barron’s report. The deal would make PSA Europe’s second-largest automaker by sales, but it could provide GM nearly $1 billion in cash. The European sell-off would also allow the U.S. auto manufacturing giant to pour more of its resources into GM’s newest tech-based ventures and markets. GM has invested heavily in new technologies including ride-sharing and electric cars in the last few years. The automaker paid $500 million to purchase a minority stake in the second-largest U.S. ride-sharing company Lyft. It also purchased the autonomous car technology company Cruise Automation for $1 billion in March 2016.