Hyundai denies claims of talks with Chrysler

Late last week we reported on news that Hyundai was in talks with Chrysler to potentially acquire the Jeep brand, and other assets from the Auburn Hills carmaker. Now, Reuters is reporting that the South Korean manufacturer has denied any interest in Chrysler's assets due to the fact that its own "hands are full".

Company spokesman Jake Jang made Hyundai's position clear, stating that it "has no interest whatsoever in acquiring Chrysler, including Jeep, and have not engaged in any discussions with Cerberus (owners of Chrysler) on this matter".

Hyundai was reportedly interested in Chrysler following General Motors’ announcement that it had ended merger talks, however the South Korean carmaker is more concerned with raising its own brand profile rather than trying to fix up the badly damaged reputation of Chrysler.

Previous to GM taking the lead in the bid for Chrysler, Renault-Nissan was also showing interest in acquiring parts of Chrysler. Nissan already produces the new Dodge Trazo for Chrysler, and a potential merger between Renault-Nissan and Chrysler could be back on the cards following GM's withdrawal.

Yesterday Chrysler CEO Bob Nardelli mentioned that he would continue to work on returning the carmaker to profitability, while seeking partnerships at the same time. "As an independent company we will continue to explore multiple strategic alliances or partnerships as we investigate growth opportunities around the world that would aid our return to profitability."