Published: Ср, Июля 04, 2018
Business | By Kate Woods

Hyundai group poised to take over Fiat Chrysler Automobiles?

Hyundai group poised to take over Fiat Chrysler Automobiles?

Hyundai could oust Volkswagen as the world's biggest auto maker in one fell swoop. Bentley and Porsche for instance have shared platforms and engines.

Only yesterday, outfits caught wind of Korean manufacturer Hyundai looking into acquiring a majority share in Fiat Chrysler Automobiles. A possible tie-up between the two auto groups is expected to happen in the not-too distant future. A source spoke to Autoblog and it revealed that Hyundai is waiting for FCA's shares to fall before pushing for a takeover. The South Korean automaker allegedly wants to begin the takeover before Sergio Marchionne steps down from leading FCA next year.

With Marchionne gone, there will be a vacuum at the top of FCA. EV support from Hyundai, however, would steer FCA clear of that iceberg.

A current free trade agreement between the US and South Korea would also help facilitate the merger and lower import/export costs compared to higher tariffs on European models.

The closer political ties between the USA and South Korea might make the merger more palatable for regulators in the countries. Marchionne has been at the helm of both Fiat and Chrysler since 2011 (and before that for Fiat), and was instrumental in the merger of the two in 2014, forming FCA. And then later, they said they were in talks regarding a potential co-development plan for transmissions and hydrogen power solutions.

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Marchionne has expressed his desire for FCA to merge with another automaker.

Speaking about the merger, Hyundai officially claimed that wasn't the case.

"That rumour is totally groundless", senior group manager of Hyundai corporate and marketing PR Michael Stewart told the US' Cnet.

Although the statement pours a little cold water on the merger speculation, a tie-up could still happen. The denial may be viewed with suspicion, as the Hyundai-FCA merger rumor has persisted for many months.

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