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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.

2022 Lotus Emira packages and colors detailed along with European pricing

Lotus just dropped all the nitty gritty details on the Emira First Edition, and it even provided European pricing. Unfortunately, we’re being told to wait for official U.S. pricing information, but this gives us a general idea of what to expect. WeÂ’ll start this off by letting you know that an Emira First Edition is fully loaded up with options, making it extra expensive. Europeans will be paying ˆ95,995 for the model, and in case youÂ’re in the U.K., your price is GBP75,995. The Euro equivalent is $112,000 at todayÂ’s exchange rates, while the pound sterling equivalent is about $104,000. Without U.S.-specific pricing available yet, itÂ’s impossible to nail down an exact figure. That said, expect it to be around $100,000 or a little more for the Emira First Edition here. Lotus tells us what you get for your First Edition money, too. It specifies that this model is the “V6 First Edition,” because a not-yet-detailed “i4” First Edition is coming late next year to launch the AMG-sourced four-cylinder model. The V6 comes with the six-speed manual transmission standard. It also adds the available 20-inch forged alloy wheels with a diamond-cut two-tone finish and two-piece brake discs with branded calipers. A bunch of optional packages are fitted as standard with the First Edition. You get the Lower Black Pack, which gives you a glossy black paint finish for the front bumper air blades, front splitter, side sills and rear diffuser. The Drivers Pack gives you the choice between the Tour or Sport suspension (Sport is slightly stiffer). Tour comes with Goodyear Eagle F1 Supersport tires, and Sport comes with Michelin Pilot Sport Cup 2s. The standard Design Pack adds privacy glass, sports pedals, Lotus-branded floor mats, a black Alcantara headliner and the choice of brake calipers in a few different colors. The Convenience Pack then adds front parking sensors, rain-sensing wipers with aero blades, auto-dimming mirrors and a rear luggage storage set. In Europe, this last pack also adds a reverse camera, but that will be standard equipment in the U.S. by law. You can add even more money to the Emira First EditionÂ’s price by opting for the full Black Pack (an extra GBP1,200 or ˆ1,370). This coats a number of other exterior parts in glossy black paint including the roof, mirrors, Lotus badge and exhaust finisher. Lastly, an automatic transmission is available for GBP1,800 or ˆ2,600, but thatÂ’s one you should skip.

Lotus stepping up to LMP1 in World Endurance Championship

Only a couple of years ago, it looked like the top tier of prototype endurance racing was in trouble. Peugeot shut down its program, leaving the LMP1 category all to Audi to dominate. Only six cars entered the Petit Le Mans in 2012, and the season was cut short. But the top class in the FIA World Endurance Championship has since blossomed. And it only looks poised to grow further.
Audi and Toyota will each be back on the grid this season, joined by Porsche. But the latest news has Lotus stepping up to the big leagues also. (Well, sorta: the German-run squad uses the Lotus name and colors, but has no more to do with the automaker than the Formula One team of the same name.)
The Lotus LMP1 will be based on the same Lola-based T129 chassis used until now in the LMP2 class, with former F1 driver Christijan Albers leading the driver lineup. In addition to Audi, Toyota and Porsche, the solitary Lotus entry will also compete against privateer Rebellion Racing in a nine-car LMP1 grid throughout the season.