Hyundai denies FCA takeover rumour

Hyundai denies FCA takeover rumour”

The South Korean brand is the latest vehicle maker linked to a takeover of Fiat Chrysler Automobiles after failed attempts with VW, General Motors and China's Great Wall Motors.

"That rumour is totally groundless", senior group manager of Hyundai corporate and marketing PR Michael Stewart told the US' Cnet.

With this new possiblity coming to light, more news involving Hyundai and FCA could still keep blips on the industry's radar.

Hyundai logo on the 2018 Kona SUV. Sergio Marchionne has been vocal about merging FCA with another big automaker and three years ago, a deal with General Motors did not come into fruition.

Sources close to the matter said that the Korean conglomerate's CEO Chung Mong-koo is waiting for FCA's share prices to drop before swooping in to buy the Italian-American giant.

Fiat Chrysler merger rumors are in the news once again, this time with Hyundai.

Spurring a decline in FCA's share price is pressure on overcapacity and a big future bill on research and development costs for electric and alternate vehicle energies that the group now lacks.

If Hyundai and FCA were to join forces, the new group would be the largest auto maker in the world, selling around 11.5 million cars per annum. Allegedly, the purchase can take place after the shares of Fiat Chrysler Automobiles will considerably lose in the price. We also reached out to FCA about the rumored merger, but they declined to comment.

On top of all that, the United States and South Korea are unified by a free-trade agreement, which would only ease the transfer of models between both nations.

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