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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

Hyundai Veloster nixed in UK after just 3 years

The Veloster, Hyundai's funky, four-door hatchback, has been pulled from the British market after just three years on sale. The blame, as is usually the case in these circumstances, is being placed on slow sales. Auto Express reports that, much like it has in the United States, the Veloster has failed to resonate with both customers and critics. While UK sales figures weren't available to prove AE's point, Veloster sales in the US through November are down nearly 2,000 units over the same period in 2013, to under 26,000 vehicles. That makes it the third-slowest seller in the Hyundai lineup, behind the far more expensive Azera and Equus sedans. The performance-minded Veloster Turbo will be replaced in the UK by a version of the i30 equipped with the VT's 1.6-liter, force-induced, direct-injected engine. You can read all about that new vehicle right here.

2019 Hyundai Kona Electric starts under $30,000 with tax credit

The vital final detail to the 2019 Hyundai Kona Electric is here: pricing. The base model starts at $37,495 before the $7,500 federal tax credit, meaning that with the credit, it starts at $29,995. That just happens to be the same as Chevy Bolt EV. Well, now at least, as the tax credit is likely going to run out in the next few months for GM and the Bolt EV. Once GM has sold 200,000 electric cars, the credit will drop to $3,750 for six months, and then to $1,875 for six more months, and nothing after. In addition to having a base price that matches the Chevy Bolt EV, the Hyundai Kona Electric has a few choice features that makes it an even more attractive deal. The Kona has a range of 258 miles, 20 more than the Bolt EV's 238 miles. The Kona also includes DC fast charging capability as standard. To have that feature on the Bolt EV, you'll have to shell out an extra $750. The Bolt EV does have an advantage over the Kona Electric, though: it's available everywhere, right now. The Hyundai Kona Electric will start hitting dealers early in 2019. Unfortunately, it will only be available in western and northeastern states with zero-emissions vehicle criteria. They're also states with drivers more likely to embrace electric cars. Hyundai hasn't announced release windows for other U.S. states. Related Video: