Hyundai logo on the 2018 Kona SUV. The report suggests that the bid will likely take place before FCA CEO Sergio Marchionne steps down in May 2019.
The only problem with Hyundai's conquest right now is the uncertainty with the U.S. market and this is due to President Trump's policies of foreign imports.
Since then, rumors about a takeover from the Volkswagen Group and Chinese automaker Great Wall have come and gone with much ado about nothing, but the recent rumors about Hyundai are a new twist.
Sources close to the matter said that the Korean conglomerate's CEO Chung Mong-koo is waiting for FCA's share prices to drop before swooping in to buy the Italian-American giant. One caveat with that, however, is that Hyundai CEO Mong-koo is 80 years old, so retirement is looming.
A Hyundai spokesperson has dismissed the allegations, labeling the rumor "totally groundless".
However, the takeover would benefit both automakers, making the new group the world's largest automaker producing over 11 million cars per year and provide FCA with a foothold in the growing Asian market, as well as electric vehicle and hydrogen fuel cell technology. That would not be the case with a Hyundai-FCA merger, rumors of which first surfaced previous year. Allegedly, the purchase can take place after the shares of Fiat Chrysler Automobiles will considerably lose in the price. Roadshow also reached out to FCA, but it declined to comment.
On top of all that, the United States and South Korea are unified by a free-trade agreement, which would only ease the transfer of models between both nations.