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China's Geely says it has no plan to buy Fiat Chrysler — as FCA stock leaps

HONG KONG — Chinese carmaker Geely Automobile denied media speculation on Wednesday that it planned to make a takeover bid for Fiat Chryslerk Automobiles (FCA), the world's seventh-largest automaker. Geely was one of several Chinese carmakers cited in by Automotive News, which said representatives of "a well-known Chinese automaker" had made an offer this month for FCA, which has a market value of almost $20 billion. "We don't have such a plan at the moment," Geely executive director Gui Shengyue told reporters at an earnings briefing, when asked if Geely was interested in Fiat. He said a foreign acquisition would be complicated, but he did not elaborate. "But for other (Chinese) brands, it could be a fast track for their development," Gui added. However, a source close to the matter said FCA and Geely Automobile's parent firm, Zhejiang Geely Holding Group, had held initial talks late last year, without disclosing their nature. The source confirmed Geely was no longer interested in FCA, noting that the parent company had only three months ago announced its first push into Southeast Asia with the purchase of 49.9 percent of struggling Malaysian carmaker Proton, a deal that also included a stake in Lotus. Geel's denial failed to dent FCA's stock. The price of its Milan-based shares has jumped more than 10 percent to a 19-year high since Automotive News first reported on Monday, citing unnamed sources, that FCA had rejected the Chinese offer as too low. FCA stock on the New York Stock Exchange rose sharply on Monday from $11.60 to $12.38 and on Wednesday was trading at $12.84. FCA declined to comment on Wednesday. FCA Chief Executive Sergio Marchionne has repeatedly called for mergers as a way of sharing the costs of making cleaner, more advanced cars, but he has repeatedly failed to find a partner and retreated from his search for in April, saying FCA would stick to its business plan. He has also spoken of spinning the successful Jeep and Ram divisions off from FCA. Europe's largest carmaker, Volkswagen, and General Motors have both said they are not interested in talks with FCA. On Wednesday, Geely Automobile reported a doubling of first-half profit, above expectations, as cars designed with Sweden's Volvo won over domestic consumers. Volvo is a unit of the Zhejiang Geely group, and has recently announced it will share its technology with Geely.

Dodge Demon lightweight by SpeedKore Performance comes to SEMA

We already know that the Dodge Demon is crazy fast. We experienced that firsthand. But its more than ample amounts of built-in speed doesn't mean that owners won't be tinkering with it to make it faster. But if you don't want to add more power (or even if you do), you can always make the car lighter. That's what SpeedKore Performance Group has done, and it will bring its lightweight carbon fiber Dodge Challenger SRT Demon to the SEMA show in Las Vegas, where it will be introduced by none other than rock legend Sammy Hagar. Last year, SpeedKore brought its carbon fiber-bodied Dodge Challenger SRT Hellcat to SEMA, and now it has applied the same treatment to the 840-horsepower Demon. The body panels and spoilers will be manufactured using SpeedKore's autoclave in Grafton, Wisconsin. SpeedKore will also be one of many companies bringing a modified Ford Mustang to SEMA. A carbon-bodied Ford Shelby GT350R by SpeedKore was recently featured on "Jay Leno's Garage." Last year, Leno also drove SpeedKore's 1970 Dodge Charger Tantrum, which features a carbon fiber front end and a 1,650-horsepower Mercury Marine engine. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery Speedkore Dodge Challenger SRT Demon: SEMA 2017 View 13 Photos Related Gallery SpeedKore Performance 2018 Dodge Challenger SRT Demon News Source: SpeedKore Performance GroupImage Credit: Live photos copyright 2017 Drew Phillips / Autoblog.com Aftermarket Celebrities SEMA Show Dodge Coupe Lightweight Vehicles Performance dodge demon dodge challenger srt demon SEMA 2017 speedkore performance

2 men die in Dodge Challenger Hellcat crash at Colorado airport

Two friends died in the crash of a Dodge Challenger Hellcat over the weekend after they shot off the end of an airport runway, authorities said. That someone died in a 707-horsepower Hellcat is, sadly, not unexpected. But two aspects of the story are remarkable. First, the men's ages: The Denver Post reports the crash victims were Lynd Fitzgerald, 71, of Colorado Springs, and his passenger, Roger Lichtenberger, 76, of San Marcos, Calif. Second, their speed: The car was likely moving at over 100 miles per hour, authorities said. The men had permission to use the 8,300-foot runway at Central Colorado Regional Airport in Buena Vista. That's more than a mile and a half long. But when the car left the runway, it went 300 feet before flying over a ravine, hitting the ground, becoming airborne again, flipping end over end across a second ravine, and ultimately landing on its wheels 650 feet past the end of the pavement. Responding police officers tried to provide first aid, but the men were declared dead at the scene. "They were just test-driving this car. They went a little too fast. I don't want to surmise. ... They probably got to the end of the runway and, at that speed, didn't realize they were there so fast. And they lost control. It was just too high a speed and they got to the end of the runway," said Chaffee County Sheriff John Spezze. There were skid marks near the end of the runway, but the sheriff didn't know the length. "I've never seen anything like it," Spezze told the newspaper. "They had permission to be there. There were no laws broken." Related Video: