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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

Stellantis wants to outfit cars with AI software to drive revenue

MILAN — Carmaker Stellantis announced a strategy Tuesday to embed AI-enabled software in 34 million vehicles across its 14 brands, hoping the tech upgrade will help it bring in 20 billion euros ($22.6 billion) in annual revenue by 2030. CEO Carlos Tavares heralded the move as part of a strategy that would transform the car company into a “sustainable mobility tech company,” with business growth coming from features and services tied to the internet. That includes using voice commands to activate navigation, make payments and order products online. The company is expanding existing partnerships with BMW on partially automated driving, iPhone manufacturer Foxconn on customized cockpits and Waymo to push their autonomous driving work into light commercial vehicle delivery fleets. StellantisÂ’ embrace of artificial intelligence and expansion of software-enabled vehicles is part of a broad transformation in the auto industry, with a race toward more fully electric and hybrid propulsion systems, more autonomous driving features and increased connectivity in automobiles. Ford and General Motors also are banking on dramatically increased revenue from similar online subscription services. But the automakers face immense competition for monthly consumer spending from movie and music streaming services, news outlets, Amazon Prime and others. Stellantis, which was formed from the combination of PSA Peugeot and FCA Fiat Chrysler, said the software would seamlessly integrate into customers' lives, with the capability of live updates providing upgraded services over time. New products will include the possibility to subscribe to automated driving features, purchase usage-based car insurance or even increase the power of the vehicle with a tune-up to add horsepower. As a baseline, Stellantis generates 400 million euros in revenue on software-generated services installed in 12 million vehicles. To meet the targets, Stellantis will expand its software engineering team of 1,000 to 4,500 in North America, Asia and Europe. More than 1,000 of the expanded team will be retrained in house. Stellantis also announced a new partnership with Foxconn to develop semiconductors to cover 80% of the companyÂ’s needs and simplify the supply chain. The first microchips from the partnership are targeted to be installed in vehicles in 2024.

The 2020 Chrysler Voyager is a cheap Pacifica minivan

The Voyager is back, baby. Yep, you read that right. FCA is leaning hard on the nostalgia button right now, and the age-old minivan nameplate has rowed its way back from its long voyage (sorry) out to sea. We'll be seeing the Voyager name on a familiar vehicle, though, not a totally new minivan. You're looking at photos of a Pacifica with a Voyager badge on it, because that's essentially what the new Voyager is. Chrysler took the lower trim levels of the Pacifica and decided those would now be Voyagers. Higher trim levels of the Pacifica are still the Pacifica. To quell confusion, just consider the Voyager a budget-conscious Pacifica with a different name. Specifically, both the L and LX trims of Pacifica will be Voyagers, and Chrysler is introducing a fleet-only LXi model with a leatherette (vinyl) interior for mass appeal to rental car companies and businesses with similar needs. Pricing for the 2020 Voyager hasn't been announced yet, but the non-fleet version will probably start right around where the Pacifica L starts now at $28,730. That makes this more of a marketing play than an actual reduction in price. The Voyager is the cheap one, while the Pacifica is the expensive one. Simple as that. Interestingly, FCA still sells significantly more Dodge Grand Caravans than they do Pacificas every month, and it's all down to price. Despite the Pacifica being leagues better than the old Dodge, the average transaction price for the Pacifica in 2019 is over $13,000 more than a Grand Caravan — $38,540 for the Pacifica, versus $24,972 for the Grand Caravan. That makes the Dodge much cheaper than any comparably sized vehicle it competes with and results in the Dodge doubling the Pacifica up on sales regularly. Maybe the introduction of the Voyager could sway some folks in the direction of the new car, rather than being turned off by the high prices of the Pacifica. The feature set for the Voyager is similar to that of the Pacifica-badged models it's replacing. You'll only be able to tell it's a Voyager on the outside from the badge on the liftgate. Chrysler added satellite radio, second-row quad seats and in-floor storage bins to the interior. You'll still get the same Pentastar 3.6-liter V6 and nine-speed automatic transmission in the Voyager, but no plug-in hybrid model will be available. We'll be interested to see how this ultimately affects sales of the excellent Chrysler minivan.