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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, Kia to put solar panels on vehicle roofs

Hyundai Motor Group said Wednesday that future Hyundai and Kia models will be equipped with solar panels capable of generating electricity as a way to increase fuel-efficiency and range and lower CO2 emissions. Hyundai says the solar panels will feature in the rooftops or hoods of select vehicles "after 2019" and will supplement traditional internal combustion, hybrid and battery-electric vehicles. The parent group said it's developing three different types of solar roof charging systems comprised of a solar panel, controller and battery. The first generation will be a silicon solar panel system mounted to the rooftops of hybrid models and capable of charging 30 to 60 percent of the battery per day, depending on weather conditions and other factors, starting as early as 2020. The second generation involves a semi-transparent solar roof system applied to a panoramic sunroof and capable of charging an electric-vehicle battery or a battery mounted on a gasoline engine. Hyundai says the latter configuration will help it increase vehicle exports, since solar-equipped ICE vehicles will be able to adhere to regulations limiting CO2 emissions. A third-generation system is being tested right now. It will add solar production capability in the hood and roof of EVs – but the companies don't provide more detail than that at this moment. "In the future, various types of electricity-generating technologies, including the solar charging system, will be connected to vehicles," said Jeong-Gil Park, executive vice president of engineering design at Hyundai Motor Group. "This will enable them to develop from a passive device that consumes energy to a solution that actively generates energy. The paradigm of the vehicle owner will shift from that of a consumer to an energy prosumer." To date, solar vehicle charging technology has mostly been for light-duty tasks, like cooling off the interior or trickle-charging a conventional battery, such as the system offered in the previous Nissan Leaf. Systems that do more than this have typically come with a very steep pricetag for modest capabilities. Panasonic has developed a 180-watt solar roof available for the Japanese version of the Toyota Prius Prime plug-in hybrid that is capable of adding up to 3.7 miles of range per day – at an unspecified (as of this writing) but undoubtedly high cost. Elon Musk, unsurprisingly, has also discussed making a solar roof optional for the Tesla Model 3.

Hyundai Motor America CEO Dave Zuchowski was fired today

According to Automotive News, Dave Zuchowski, CEO of Hyundai Motor America, was fired today, effective immediately. Automotive News cites multiple anonymous sources that said the reason for this decision was missing the company's internal sales goals. Hyundai has confirmed in a statement that Zuchowski will be "leaving the company", without citing a specific reason for the departure. Until a new CEO is named, the American division's executive vice president and general counsel Jerry Flannery will fill the role. Flannery has been with Hyundai since 1987, and a search for a permanent replacement is already underway. According to Hyundai, this change in management is part of "a continuation of a reorganization that began late this year." Zuchowski became CEO of Hyundai Motor America in 2014, taking the reigns from John Krafcik. Krafcik left at the end of his contract, and now works for Google's autonomous car spin-off Waymo. Zuchowski has worked in the auto industry for over three decades, and was at Ford and later Mazda before coming to Hyundai. Related Video: