Posted on Wednesday 18 July 2007
There’s been no end to the list of potential bidders for Ford Premier Auto Group brands - Jaguar, Land Rover and Volvo. Carmakers such as BMW, Renault and Hyundai were all thrown into the rumor mill as well as equity firms Cerberus, Blackstone and Equity One as suitors but more details are starting to emerge about each bid. Hyundai, for example, has just announced that it has no interest in acquiring any other carmaker, as all its investments are already tied up, a spokesman revealed to MarketWatch.
Hyundai is currently building a new factory in the Czech Republic and production of Kia plants in the US and China is also underway, so there’s very little room for further investment.
Earlier reports suggested that Hyundai was already in the early stages of evaluating a bid for the Jaguar and Land Rover but according to the spokesman these were untrue. Either way, Hyundai and its Kia subsidiary is well on track to becoming the fifth-largest carmaker in the world by 2010, a goal it set for itself earlier in the decade.