Last week’s report in the Asia Times, citing unnamed sources, laid the foundation of a rumor that Hyundai has its eyes on Fiat Chrysler as a potential takeover target. FCA CEO Sergio Marchionne’s history of attempting courtships with other major automakers only served to bolster the idea. If General Motors and Volkswagen seemed so attractive, why not Hyundai?
Forget about it, claims a Hyundai spokesman.
Last year, following several fruitless attempts to find a merger partner, Fiat Chrysler Automobiles found itself on the business end of a pretty shocking rumor. Apparently, several Chinese automakers were lining up for a chance to buy FCA. Not so, said those automakers, though Great Wall Motors mentioned it totally wouldn’t miss a chance to steal the Jeep brand away from its parent.
While the thought of such an acquisition no doubt inspired nightmares among Jeep fans (and FCA accountants), it was not to be. Not only is the automaker determined to keep a firm hold on its most valuable brand, it’s not planning on offloading any division, CEO Sergio Marchionne now claims.
After a bombshell report stated multiple Chinese automakers are courting Fiat Chrysler Automobiles in the interests of a buyout, the country’s most well known manufacturer says it wasn’t the one making an offer.
Geely Automotive, an unknown entity until its parent holding company’s 2010 purchase of Ford castoff Volvo Cars, claims it isn’t planning a takeover of the Italian-American automaker. However, it’s not like Geely’s parent company doesn’t have deep pockets. Surely there’s roughly $20 billion in clanky bits somewhere in those trousers.
Still, a source claims Zhejiang Geely Holding Group did hold preliminary talks with FCA late last year.
It’s the dream of every startup to bring forth an exciting idea and then allow itself to be purchased by a much larger and less imaginative company to ensure the concept never reaches fruition. Lucid Motors, one of the few automotive startups attempting to temper hype with reasonable expectations, is approaching that dream as rumors of its attempt to sell itself to a larger automaker begin to proliferate.
While most of the talk surrounding the potential sale of the company is just that, Lucid has been desperately seeking funding for the production of its electric car in Arizona. Unnamed inside sources claim the company reached out to Ford Motor Company and even held preliminary takeover talks.
There’s a battle brewing between France and China over a famous Malaysian-owned British automaker. Who said globalization was in danger?
Geely, Volvo’s Chinese parent company, is in talks to buy Proton, the Malaysian owner of the famed Lotus brand, the Financial Times reports. Proton’s not doing well these days, all thanks to an influx of affordable imports that has eroded its domestic market share. To reach its goal, Geely must first stave off stiff competition from Europe.
France’s PSA Group, maker of Peugeot and Citroën (and potential future owner of Opel and Vauxhall), also wants to get its hands on Proton. However, it looks like the competing automakers want different things from the deal.
It comes across as a movie scene where the departing mother soothes the nerves of two children frightened by their father’s impending remarriage.
In this case, the children are the trembling employees of German General Motors division Opel, and the departing parent is GM CEO Mary Barra. Well, “departing” isn’t accurate, at least not yet. The American automaker is in talks with France’s PSA Group to potentially sell off Opel, as well as its Vauxhall sister division.
Yesterday, Barra spoke to employees at Opel headquarters, hoping to allay fears and quell protests from Opel’s works council and union, as well as the German government. Her words, or what we know of them, relayed the message, “Kids, it’s gonna be okay.”
It’s one thing for Tesla Motors to be the Apple of motoring. It’s another for Apple to be the Apple of motoring. The solution, according to one analyst: Apple should buy Tesla to remain profitable long after the gold rush of smartphones and tablets has disappeared from the rear view mirror.
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