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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.

2015 Dodge Charger Pursuit is ready to serve and protect

Okay speed freaks, it's time to update your cheat sheet of police headlights, as Dodge has just unveiled the new 2015 Charger sedan's police variant, the Pursuit.
Like previous Charger Pursuits, the 2015 model is based on a modified version of the civilian sedan, featuring the same basic batch of mechanicals and sheetmetal, while adding a number of items specific to the five-oh.
For 2015, cops can select from the same 3.6-ltier V6 and 5.7-liter Hemi V8 available to the civilian population, with former turning out 292 horsepower and 260 pound-feet of torque and the latter packing 370 ponies and 390 lb-ft. Even loaded down with equipment, Dodge claims the Hemi-powered cop car can hit 60 miles per hour in under six seconds, while both engines are expected return 26 miles per gallon on the highway (thanks to the V8's four-cylinder mode). Rear-wheel drive is standard with both engines, while V8 Pursuits can be fitted with all-wheel drive.

Dodge Scat Pack for 5.7L Hemi V8 detailed, priced

Dodge revived the Scat Pack name back in November at the 2013 SEMA show. At the time, though, we were short of details on forthcoming upgrade packages, which were destined to add some oomph to the Challenger, Charger and Dart. We're still waiting to hear about the upgrades to the Dart's 2.4-liter four-pot, but Dodge has gone ahead and released the details on the upgrades to the 5.7-liter Hemi V8 in the Challenger and Charger R/T.
As we detailed in our original post, three different Scat Packs will be available that will allow customers to upgrade their cars without voiding the warranties. Starting with the $2,195 Stage 1 kit, owners will net an extra 18 horsepower and 18 pound-feet of torque thanks to a Mopar-branded cold-air intake, exhaust and ECU ref lash. Stage 1 is also the only package that could be installed outside of a Chrysler-authorized service center without voiding the warranty (a mechanically competent owner could even do it at home, we're told by Dodge). Stage 2 builds on the entry level Scat Pack, and adds performance camshaft kit, which boosts output over the stock 5.7 by up to 30 hp for $1,895. As with the Stage 1, the ECU is tweaked.
For those that want to go whole hog, they can add the Stage 3 for $4,995. The top-tier gets quite serious, adding CNC-ported cylinder heads, as well as high-flow headers and cats. Output over stock is 58 hp and 47 lb-ft of torque. Each kit comes with a pair of badges, just in case owners want a bit of visual flair.