• AUTOMOTIVE NEWS»
• BREAKING NEWS»

• Article Tools:
• Print
• Email
• Order Reprints

SEOUL -- Hyundai says it has no interest in acquiring Chrysler.

"Our hands are full" with various expansion plans around the world, says Hyundai spokesman Jake Jang. "We have no interest in acquiring any company. That includes Chrysler."

Last week, reports were circulating that Hyundai was interested in buying Chrysler's Jeep brand.

Cerberus Capital Management, which owns a majority stake in Chrysler, is seeking a buyer for the financially troubled automaker.

On Friday,General Motors said it had ended talks to acquire another automaker, presumably Chrysler. GM, which is seeking an infusion of federal tax dollars, said it will concentrate on its own rescue plan.

Two weeks ago, Carlos Ghosn, CEO of Nissan, said the worldwide financial crisis has turned automakers skittish about acquisitions.

Companies aren't "going to be risking cash for a strategic move while they have absolutely no clue how long this crisis or meltdown is going to last," he said.

Ghosn's comments countered media reports that Nissan, which was rescued by Renault almost a decade ago, was interested in buying 20 percent of Chrysler. He dismissed the reports as speculation.

Said Ghosn: "I don't think you're going to see many companies venturing in strategic operations involving cash."