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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.

Gauging reaction to the 2015 Dodge Charger Pursuit on Detroit highways

Steven Ewing and I kind of pretended to be cops a few weeks ago. No, not in the illegal way; we just took turns driving the 2015 Dodge Charger Pursuit around Detroit and its suburbs, learning invaluable life lessons along the way. A lot of those lessons came in the form of weird reactions from other drivers. Steve peeved his neighbors by surprising them in the parking lot, I can damn close to sitting in jail next to a murderer and we both caught our fair share of evil-eyed glances. One of my very first observations was a pronounced "bubble effect" when driving in traffic on the highway. Attempting to recreate the effect for the video camera, I grabbed Senior Producer Chris McGraw and we went for a ride in the name of pseudo psychology. The results weren't exactly as we'd predicted, but we had fun all the same. Get one more dose of your cop car fix, above.

Dodge shows can-do attitude with grand Can'avan sculpture

There are lots of ways to celebrate an important birthday, and all of them are well deserved. You can throw a big party, buy yourself something nice, or - if you're the altruistic type - do something for others in need. The latter is how Chrysler has opted to mark the 30th anniversary of its Dodge Grand Caravan and Chrysler Town & Country.
Together with hunger-advocacy organization Canstruction, the Chrysler Foundation has built a full-scale replica of the Grand Caravan out of 30,000 food cans in the square at the corner of Yonge and Dundas in Toronto, a ways down the highway from where the real vans are built in Windsor. The sculpture was built over the course of 10 hours by 30 volunteers and was displayed earlier this week.
Now the installation is being taken down, and the cans of food are being donated to the Daily Bread Food Bank, which will assemble them into 2,000 food baskets to be distributed to those in need through its network of 200 food banks across the Canadian metropolis. Check out a neat time-lapse video of the build and the press release below.