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Marchionne now considering 'Plan B' partners for FCA merger

Okay Sergio, just stop. With the sting of rejection from General Motors CEO Mary Barra still fresh, Fiat Chrysler Automobiles CEO Sergio Marchionne is moving on and trying to find another automaker to merge with. FCA may not be giving up hope on a merger with GM, but that doesn't mean it isn't at least considering alternatives. Sergio's so-called "Plan Bs" include the Volkswagen Group, as well as smaller Asian outfits, like Mazda, Honda, Suzuki, and Hyundai. Bloomberg reports that France's beleaguered PSA Peugeot Citroen could as a sort of "fallback" option due to its relative lack of volume, an unidentified source claimed. There are, of course, problems with each option. According to Bloomberg, Volkswagen expects complete control of a company, but the Agnelli family, which holds a large portion of FCA stock, is loathe to relinquish its stake in the company. On top of that, VAG just isn't looking to make a deal right now. Mazda, meanwhile, is enjoying a new partnership with Toyota and Suzuki is partially owned by VW. Honda and Hyundai have never expressed any interest in a partnership with a western automaker. That kind of just leaves the French then, but even that remains a long shot. As Bloomberg tells it, PSA boss Carlos Tavares is still working on a turn-around plan, and would want at least another six months to execute before even considering a deal with FCA. And even then, Tavares hasn't given any indication that he's considering a pairing. News Source: BloombergImage Credit: Paul Sancya / AP Chrysler Fiat GM Honda Hyundai Mazda Suzuki Citroen Peugeot Sergio Marchionne FCA Mary Barra psa peugeot citroen

Hyundai Motor heir Euisun Chung takes over from father after 20 years in waiting

SEOUL — Hyundai Motor Group appointed Euisun Chung as group chairman on Wednesday, cementing his succession from his octogenarian father in a move likely to give impetus to the world's fifth-largest automaker's push into electric vehicles and flying cars. In the first generational handover at the South Korean automobile giant in 20 years, Chung, 49, said he hoped to lead change at South Korea's second-biggest conglomerate as it battles to stay ahead of the pack in a time of rapid technological innovation in the global auto industry. "Carrying on their bold and innovative legacies, I feel privileged, yet also a sense of great responsibility for opening a new chapter of Hyundai Motor Group," Chung said in his inauguration speech to employees. Chung identified autonomous driving, electrification, hydrogen fuel cell, robotics and Urban Air Mobility (UAM) — industry jargon for flying cars — as his initiatives for the future. Hyundai Motor shares were trading up 0.3% after rising as much as 2.5% after the appointment, while the wider market was down 0.6%. Kia Motors and Hyundai Mobis fell 1.6% and 1.1%, respectively.   Legacies Hyundai Motor Group earlier on Wednesday said Chung had been promoted to chairman from executive vice chairman, replacing his father, Mong-Koo Chung, who was made honorary chairman. Key affiliates of Hyundai Motor Group, including Hyundai Motor, endorsed his inauguration unanimously. The appointment makes Chung the latest third-generation leader to take over one of South Korea's family-led conglomerates, which have been credited with lifting the war-stricken country out of poverty since the 1950s. His father took the wheel of the group in 2000 and transformed the company, once mocked for poor vehicle quality, into the world's No.5 automaker. The 82-year-old has been stepping back from frontline operations in recent years, and gave up his board seat in Hyundai Motor earlier this year. Euisun Chung has played an increasingly visible leadership role since September 2018 when he was promoted to executive vice chairman. Hyundai Motor Group invested $1.6 billion in a self-driving technology joint venture with U.S. Aptiv, forged a partnership with Uber on electric air taxis and invested in ride-hailing firm Grab. In July, Chung set a goal to win more than 10% of the global market for battery EVs by 2025.

Hyundai, Kia expanding plug-in vehicle line-up in Korea

Hyundai is shedding a bit of light on its electric vehicle plans. About time, too, since the company has spend a long period being quite vague about plugging in while touting its hydrogen plans. The Hyundai and Kia brands will both release their first plug-in hybrid vehicles next year in Korea; an all-electric version of the Kia Soul will roll out in May of this year and a mid-size electric vehicle will be launched as early as next year. Test versions of the Hyundai i10 electric vehicle have been on Korean roads since first being used at the G20 summit in Seoul in 2010. There have been hints about an electrified Hyundai coming to America, and at the Washington Auto Show last week, Michael O'Brien, vice president of corporate and product planning for Hyundai Motor America told AutoblogGreen that a new EV will be coming to the US market sometime within the next three years. A Hyundai executive told Korean national daily The Chosunilbo that the company will be significantly increasing its investment in hybrids and EVs to roll out a few eco-friendly models starting in 2015. It's hard to say which of these might come to the US market – a new LF Sonata will be coming out in both a regular gasoline and hybrid system in Korea; the US already has the Sonata Hybrid for sale. As for plug-in hybrids, Hyundai said that there will be both Sonata and Kia K5 (Optima) models coming out next year. These will also be the first-ever plug-in hybrids in the Korean market. Featured Gallery 2012 Hyundai Sonata Hybrid View 13 Photos News Source: The Chosunilbo Green Hyundai Kia Electric Hybrid Hydrogen Cars PHEV