As per reports South Korean automaker, Hyundai is planning to acquire FCA which incorporates brands like Fiat, Jeep, Dodge, and Chrysler. Asia Times reports that Hyundai is intending to purchase FCA before the retirement of the organization’s CEO, Sergio Marchionne in 2019. Marchionne will retire from the position of CEO in April 2019 and it was uncovered at FCA’s annual investor’s meeting. He has been searching for buyers for FCA since October 2014. Presently, Hyundai has shown its interest in acquiring the Italian-American firm.
Already in 2015, noteworthy automakers, like, Ferrari, General Motors and Volkswagen Group was accounted for to be in the bid to gain FCA. Chinese automaker Great Wall was also in the race to purchase the Jeep brand. But now Hyundai is said to be the main player for the takeover of FCA.
Aside from the hypotheses about the buyout of FCA, the reports additionally express that Marchionne is likewise taking a shot at another strategy for success for 2022. On the off chance that reports are to be trusted, Marchionne likewise needs the procedure of partition to be finished before the current year’s over.
Aside from the theories about the buyout of FCA, the reports additionally express that Marchionne is likewise taking a shot at a new business plan for 2022. On the off chance that reports are to be trusted, Marchionne also wants the procedure of separation to be finished before the current year’s over. The buyout of FCA would help in boosting the financial condition of the company. Then again, Hyundai’s financial condition is steady and there are more possibilities for the South Korean company procuring FCA. Both the companies have not uncovered any data about the latest development.
By acquiring FCA, Hyundai will profit by the dealership system of Chrysler and the prominence of the Jeep brand. Similarly, FCA will be pick up from Hyundai’s stronghold in the Asian markets. If Hyundai gains FCA, the new company will be the world’s largest automaker.