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Hyundai reportedly eyeing a takeover of FCA

The CEO of Hyundai Motor Group plans to launch a takeover bid for Fiat Chrysler ahead of the planned retirement of FCA Chief Executive Sergio Marchionne next spring, Asia Times reports, citing unnamed sources close the situation. CEO Chung Mong-koo will wait for an expected decline in the Italian-American automaker's shares to make his move. Hyundai isn't commenting on the rumors, unsurprisingly, but would presumably stand to benefit by gaining Chrysler's dealer network and the lucrative Jeep brand and probably Ram, too. An FCA spokeswoman in Auburn Hills told Autoblog the company had no comment. But like any story about a possible takeover, this one gets complicated with inside players — and President Trump's posturing on international trade issues. FCA has been the subject of takeover interest before, including by Hyundai, but Marchionne has denied a merger was likely, instead saying his company was in talks with the Korean automaker about a technical partnership. In 2015, Marchionne lobbied General Motors hard, but unsuccessfully, for a tie-up; he was also spurned by Volkswagen. Marchionne had repeatedly stressed the need for car companies to merge to decrease overcapacity and better afford the massive investments needed for things like autonomous and electric vehicles. In the case of Hyundai's reported interest, there is a cast of characters. One is Paul Singer, principal of the hedge fund Elliott Management, an activist shareholder with a $1 billion stake in Hyundai and a major owner of equities in Fiat's home turf of Italy. Then there is FCA Chairman John Elkann, who reportedly disagrees with Marchionne on a successor as CEO of Fiat Chrysler but has little interest in running the company himself and would prefer a merger. Compounding things is what the Trump administration would think of a further blending of Fiat Chrysler's international DNA, though a deal with a Korean automaker is thought to be more palatable to the president and members of Congress than by a Chinese conglomerate like Great Wall Motor, which has confirmed its interest in taking over all or parts of FCA. The full Asia Times piece is here. Related Video: News Source: Asia TimesImage Credit: REUTERS/Rebecca Cook Chrysler Fiat Hyundai Jeep RAM Sergio Marchionne FCA merger takeover

Jeep hackers return to take over your steering wheel

Last year, security researchers Charlie Miller and Chris Valasek made headlines by remotely hacking a Jeep, killing the transmission and applying the brakes while Wired reporter Andy Greenberg was behind the wheel and driving in traffic. The hack led to a 1.4 million-vehicle recall for Fiat Chrysler and new jobs at Uber's Advanced Technology Center for Miller and Valasek. Despite the cushy new gigs, the two of them apparently aren't done hacking Jeep Cherokees for sport. In their latest exploit, the pair can gain even more control over a vehicle, but it would also be extremely difficult to pull off in a real-world setting. Here's the harrowing part first: Miller and Valasek can do more than just apply the brakes at low speed or cut the transmission this time around. Now they can turn on the parking brake, mess with the cruise control and hijack the auto-parking system to jerk the steering wheel a dangerous 180 degrees while the car is in motion. It looks about as frightening as it sounds: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Although it's not hard to see how that would make for a very terrifying drive, there's a big grain of salt that comes along with it: Miller and Valasek actually used the same model 2014 Jeep Cherokee as the original demonstration, but without the software patch applied. Or, as Wired put it, "imagine an alternate reality," where a fix had never been made. Unlike before, the latest hack requires a physical connection plugging their laptop into the Jeep's OBD-II diagnostic port under the dash. The team also had to update the Jeep with their own firmware to disable some of the car's built-in safety checks before they could get much control. In other words: In order to get hacked, Jeep owners would first need to roll back their car's firmware to an older version, invite someone to remove security features and then also let them ride shotgun with a computer. Or, as Engadget's resident security expert Violet Blue wrote on Twitter, it's sort of a non-threat. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. That said, The Verge points out that it may still be possible to exploit OBD-connected wireless dongles like the Metromile Tag, Automatic Link or other similar devices currently marketed by insurance companies.

North Carolina driver charged for flattening Trump sign

Police in Wilmington, NC are investigating a viral video that shows a local man driving off the road to run over a Trump for President campaign sign. Julien Schuessler of Wilmington posted a video to Facebook on March 15 showing him driving his white Jeep off the road in a reckless manner to smash a Trump sign. He captioned the video, "I love having a Jeep sometimes." The video immediately went viral, reaching nearly a million views and 25,000 shares in less than twenty-four hours. Any elation Schuessler may have felt at having his video go viral was short lived, though. According to WWAY, Wilmington Police were tipped off to the existence of the video on the afternoon of March 16. They were, understandably, less than pleased. In an official tweet, WPD stated that they were aware of the video and were investigating. A spokesperson for the WPD stated that Schuessler faces multiple charges for his little stunt, including hit and run, reckless driving, and failure to maintain lane control. WWAY reached out to Schuessler for comment, but he has declined to respond. News Source: wwaytv3 Government/Legal Weird Car News Chrysler Jeep Driving Safety SUV Off-Road Vehicles Police/Emergency Trump north carolina hit and run vandalism wrangler