Hyundai next in line for Fiat Chrysler buyout rumors
I feel like we're going to go through the whole automotive industry before anything actually happens.
Another day, another rumor that an automaker might be interested in purchasing Fiat Chrysler Automobiles.
Hyundai might be interested in purchasing Fiat Chrysler, The Detroit Bureau reports. Rumors to this end originally surfaced shortly after other rumors that Chinese automakers were interested in purchasing some or all of Fiat Chrysler's portfolio of brands, which includes Alfa Romeo , Fiat, Chrysler, Jeep and Dodge .
If such a merger were to occur, it would make Hyundai-FCA the largest automaker in the world, surpassing the two companies currently doing battle for that honor, Toyota and Volkswagen .
Surpassing both Toyota and VW as the largest automaker in the world is no small feat, considering each sells millions of new vehicles every year.
As a matter of fact, both Toyota and Volkswagen have been mentioned as potential suitors for Fiat Chrysler in the past. Reuters reported in mid-2016 that FCA CEO Sergio Marchionne mentioned Volkswagen, Toyota and Ford as possible merger candidates. The Volkswagen rumor grew as VW didn't immediately shoot the idea down, but since then, nothing's come of it.
Marchionne was also keen on the idea of merging with General Motors, an idea that GM shot into the ground and buried underneath eight feet of concrete.
The most recent acquisition rumor before Hyundai involved only one part of FCA. It was rumored that China's Great Wall Motors was interested in purchasing Jeep in order to bolster its SUV credentials. That idea, too, was eventually shelved, which brings us to today.
Fiat Chrysler has long been on the search for a partner for the future. Developing the next generation of vehicle tech -- specifically, electric cars and autonomy -- is far from cheap, and in order to prevent costs from spiraling out of control, FCA hopes to shore up and split costs with someone else. So far, that has not happened, and Fiat Chrysler continues to lag behind its American counterparts in developing and deploying electrified vehicles.
Fiat Chrysler did not immediately respond to a request for comment, and Hyundai declined to comment on speculation.
