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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.

Autoblog Electric launches; we talk EV news, VW ID.4 and Kia EV6 | Autoblog Podcast #770

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Green, John Beltz Snyder. In company news, we launched the Autoblog Electric hub this week, and as such, we spend a lot of this episode talking about EVs. WE start by talking about some electric pickups on the way, EV charging and U.S. infrastructure plans, states banning ICE sales, the happiest EV owners, thoughts on the viability of smaller electric automakers and Formula 1's renewed stance against goinf electric. We also share notes on the Volkswagen ID.4 and Kia EV6 we've been driving, as well as other memorable EVs we've driven in the past year. Finally, we reach into the mailbag for a Spend My Money update before talking about late winter/spring beverages.  Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #770 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Autoblog launches Autoblog Electric Electric pickup trucks available in 2023 and beyond The current and future state of EV charging New Jersey is the next state to ban light-duty ICE vehicle sales by 2035 Rivian R1T, Mini Cooper Electric owners happiest with their EVs Thoughts on smaller electric automaker firms F1 CEO vows there will never be an electric car on the grid Cars we're driving Long-term 2022 Kia EV6 2023 VW ID.4 Other memorable EVs Spend My Money update: Replacing an Alfa Romeo Giulia with a BMW i4 Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: Government/Legal Green Motorsports Podcasts Kia Lotus Volkswagen Green Automakers Green Culture Green Driving Truck Crossover SUV Electric Racing Vehicles Infrastructure Lucid

Fighter jet-inspired Lotus EV was developed for endurance racing in 2030

Lotus is about to start writing a new chapter in its long history, and the plot could include a renewed focus on racing. It unveiled a futuristic concept called E-R9 that explores what an endurance race car might look like in 2030. Developed by Lotus Engineering, the E-R9 is a digital design study that exists only in computer-generated renderings (shown above). It's finished in black and gold, a color scheme chosen as a tribute to the British company's past race cars, and it's equipped with a stunningly advanced suite of active aerodynamic add-ons. Its morphing body panels can be controlled automatically or manually, depending on the situation. On long straights, they flatten out to reduce drag. When a corner approaches, they generate more downforce. The vertical control surfaces on the back end of the triangle-shaped body adjust themselves as-needed to allow the car to pivot around a turn. "The result is a racer that’s partly driven like a car and partly flown like a fighter jet," Lotus promised. Fittingly, the driver sits in a fighter jet-like cockpit with a wrap-around windshield that provides excellent visibility. Photos of the cockpit haven't been released, however, but it's likely as science fiction-esque as the exterior design. Power for the E-R9 comes from a fully electric drivetrain that assigns each wheel its own motor. It's an evolution of the system fitted to the Evija, the first production-bound electric Lotus. Details like range, horsepower, torque and acceleration aren't available, but the firm hinted that its racer uses a battery pack built with a mixed-cell chemistry. Interestingly, it also pointed out the battery can theoretically be swapped out during pit stops, which solves the issue of pausing the race — or losing precious seconds — while the driver waits for the pack to take a charge. Many of the features showcased by the E-R9 are not in production, but Lotus says that could soon change. "The Lotus E-R9 incorporates technologies which we fully expect to develop and be practical. Lotus has an amazing history of developing unique solutions, and weÂ’ve done it many times in motorsport and with our road cars," said Lotus chief aerodynamicist Richard Hill in a statement. While that's not a confirmation that Lotus will send the E-R9 to the track in 2030, it's a strong signal that the company wants to continue racing for decades to come. Related video: