According to reports from Detroit, the Korean automaker has been in talks with FCA since last month, after a series of links-up with two other Chinese manufactures, Geely and Dongfeng, failed to materialise. This comes after a possible merger with Volkswagen was struck off the role by company CEO Sergio Marchionne back in March.
"Hyundai is denying the merger, but the need to acquire a company is higher than ever due to the crisis in the Chinese and US markets," Eugene Investment & Securities automotive analyst, Lee Jae-ill, told the Korea Herald.
He stated that the possible buyout of the FCA would cost in the region of $9.8-billion (R129-billion), or $4.9-billion (R64-billion) without including Maserati and parts manufacturer Magneti Marelli. According to Jae-ill, the acquisition of FCA would see Hyundai surpass Nissan, Volkswagen and Toyota in terms of sales volume.
Grand Wagoneer coming in 2019
Elsewhere, Automotive News has claimed that the long delayed Jeep Grand Wagoneer will finally go into production in 2019, instead of late next year as previously reported.
Set to rival the Cadillac Escalade, GMC Yukon Denali, Lincoln Navigator and imports such as the Range Rover, Mercedes-Benz GLS, Audi Q7 and Volvo XC90 in the States, the Grand Wagoneer, a name last used in 1991, will reportedly use the same underpinnings as the Ram 1500 pick-up, and replace the long since discontinued Commander as Jeep's new flagship ultra-luxury SUV.
