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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

Autoblog Minute: VW finds CO2 'irregularities', Takata dropped by automakers, SEMA recap

Volkswagen's diesel emissions scandal gets a new wrinkle, US regulators hit Takata Corporation with a substantial fine, and we head to Las Vegas for a look at tuner paradise at the 2015 SEMA show. Autoblog senior editor Greg Migliore reports on this edition of Autoblog Minute Weekly Recap. Show full video transcript text [00:00:00] Volkswagen's diesel emissions scandal gets a new wrinkle. US regulators issue a significant fine to Takata Corporation. And we take a peek inside tuner paradise at the 2015 SEMA show. I'm senior editor Greg Migliore and this is your Autoblog Minute Weekly Recap. The VW diesel emissions scandal, first brought to light in September, gets a new wrinkle, as an internal investigation by the German automaker revealed [00:00:30] irregularities in CO2 emissions that could affect approximately 800,000 vehicles. VW estimates the issue could pose a 2-billion euro economic risk. VW claims that most of the vehicles affected have diesel engines, but industry analysts say a 1.4-liter gas engine is also affected. VW says that fuel consumption figures were set too low during the CO2 certification process. During all of this, sales of some diesel-powered Volkswagen, Audi, and Porsche models [00:01:00] have been halted. Takata Corporation is back in the news in connection with its deadly airbag scandal. Federal regulators fined Takata $70 million. If the parts supplier does not comply, the fine could balloon to $200 million. Takata was also dropped this week by its biggest customer, Honda. And now, Toyota and Mazda will be following Honda's lead in dropping Takata. We're also hearing that Mitsubishi and Subaru are considering a switch in air-bag inflator suppliers. SEMA 2015 [00:01:30] came and went. We saw offerings from Mopar, like the AWD Challenger concept. Honda unveiled a Ridgeline that it will race at the Baja 1000, which gives us a hint at what future production model could look like. The celebrity presence was also felt in Vegas as it always is. Kid Rock brought a Duramax Diesel Chevy Silverado, and Acura restored and presented Ludacris with his now famous 1993 Acura Legend. Those are the highlights from the week that was. Be sure to come back on Saturday for my full recap, [00:02:00] where I'll have some added insight into Hyundai's foray into the luxury sector. For Autoblog, I'm Greg Migliore. Autoblog Minute is a short-form video news series reporting on all things automotive.

Bisimoto tunes Hyundai Ioniq SEMA show car for efficiency, not power

Automotive tuner Bisimoto is probably best known for its wildly powerful SEMA show cars, such as its 1,029 horsepower Honda Odyssey, and last year's 1,040-horsepower, rear-drive Hyundai Santa Fe. But this year, the company tried something different, building a Hyundai Ioniq hybrid not for power, but for fuel economy. According to Hyundai and Bisimoto, the resulting HyperEconiq managed to repeatedly exceed 80 mpg, based on 83 tests by the tuning company. That's a seriously impressive gain considering the standard Ioniq hybrid is rated at 57 mpg city and 59 mpg highway. Bisimoto was able to do this by enhancing just about every aspect of the car inside and out. But the most obvious changes are on the outside. The HyperEconiq features a custom body kit with front and side splitters, and a rear spoiler. There are also some prominent wheel spats, something we haven't really seen since the first-generation Honda Insight. The car also features lightweight, one-piece carbon fiber wheels from Carbon Revolution, and they're shod in high-silica low rolling resistance tires. Aluminum brake calipers further lighten the car, and coilover suspension lowers the car for better aerodynamics. There are a few other mechanical changes under the skin, too. The engine features unique low-friction 0W20 oil from PurOl. It has also been tweaked so that more air can be pulled in during valve overlap, and the exhaust was upgraded to improve exhaust flow out of the engine. The overall look is rather attractive. The body kit makes the car look sportier and more aggressive, and the carbon wheels are a nice accent to the dark gray color. We're still undecided on the looks of the wheel spats, but if they're functional, it's hard to argue with them. It will also be interesting to see if hypermiling upgrades enter the aftermarket mainstream. Related Video: Featured Gallery Bisimoto Hyundai HyperEconiq: SEMA 2017 Image Credit: Live photos copyright 2017 Drew Phillips / Autoblog.com Aftermarket Green SEMA Show Hyundai Fuel Efficiency Hatchback Hybrid Sedan hyundai ioniq bisimoto