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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

Fiat Chrysler picks Google, Samsung for global connected car system

DETROIT — Fiat Chrysler said on Tuesday it will use technology from Alphabet Inc's Google and Samsung to connect all its vehicles by 2022, providing music and video and facilitating future car-sharing and self-driving capabilities. Fiat Chrysler Automobiles NV (FCA) will use Google's Android operating system globally instead of a mixture of software that varies by region, a spokesman said. The automaker will also use a cloud-based digital platform from Samsung Electronics Co Ltd's Harman unit. Unlike its rivals General Motors and Ford, FCA has spent virtually nothing on developing self-driving vehicle technology. This saves the company large amounts of money, but makes it reliant on outside parties to provide technology and systems. FCA said it will launch the new capabilities in the second half of 2019. The company said the system will aid owners "by predicting maintenance needs, locating fuel and charging stations, receiving traffic prompts and restaurant offers and providing live customer-care assistance at the push of the button." Chrysler Dodge Fiat Jeep RAM Technology Emerging Technologies connected car

2019 Ram 1500 pickup production problems costing FCA $300M to fix

Fiat Chrysler is spending more than $300 million to fix production issues with the new 2019 Ram 1500 pickup as the plant where it's built is running below capacity and suppliers reportedly struggle to keep up with building it and the 2018 version simultaneously. The truck's ramp-up is well behind schedule, Automotive News reports. FCA's Sterling Heights Assembly plant in Michigan began building the pickup in mid-January but is running at only 60 percent capacity, CEO Sergio Marchionne said on an earnings call last week. Sources told the publication the plant is still undergoing construction and was building about 1,000 trucks per day toward a run rate of 1,400 per day. It's operating two 10-hour shifts per day, seven days a week, with plans to keep the factory running every weekend and holiday through Labor Day to meet production targets. More than 2,500 of the new pickups were reportedly awaiting unspecified electrical repairs before they could be shipped. FCA could use the boost from the heralded new 2019 Ram 1500, which figures prominently in its aggressive annual financial goals. The company is relying on the previous-generation 2018 Ram 1500, demand for which has been sagging. First-quarter sales of the pickup are down almost 13 percent year over year to 103,964, according to carsalesbase.com figures. Meanwhile, sales of Ford's F-Series pickups over the same period rose 4 percent to 214,191, while Chevrolet Silverado sales have climbed 5 percent to 135,545. Dealers have started receiving deliveries of the 2019 Ram 1500, but only the version fitted with the 5.7-liter V8. The EPA has yet to issue fuel economy ratings for the standard 3.6-liter Pentastar V6 paired with the eTorque 48-volt mild hybrid system, nor the same system mated with the V8. As we noted in our recent First Drive review, upgrading to the (non-hybrid) V8 costs $1,195, which is actually $255 cheaper than before. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Image Credit: FCA Plants/Manufacturing RAM Truck sales