Hyundai says no pickup for ‘foreseeable future’

* Hyundai says no pickup for US for ‘foreseeable future’

* Hyundai says no talks with Chrysler now on rebadging

DETROIT, May 14 (BestGrowthStock) – Hyundai Motor Co (005380.KS: )
said on Friday that it had no plans to bring a pickup truck to
the U.S. market for “the foreseeable future.”

The statement was issued in response to a Reuters report on
Tuesday that quoted three people with knowledge of the plans as
saying that Hyundai had floated plans to enter the U.S. pickup
truck market and proposed a partnership with Chrysler.
(FIA.MI: )

As one option, Hyundai made a proposal to Chrysler earlier
this year under which the U.S. automaker would build a truck
for Hyundai based on Chrysler’s Ram truck platform, two of the
sources told Reuters.

Chrysler Chief Executive Officer Sergio Marchionne rebuffed
Hyundai’s initial approach in February, the sources said.

Hyundai said in its statement that it was not currently in
discussions about selling a rebadged Chrysler vehicle in the
U.S. market.

“Hyundai Motor Co. denies that there are any current plans
to bring a pickup truck of any type into the U.S. now or in the
foreseeable future,” the company said in its statement.

“Hyundai is not in discussion with Chrysler in regard to a
selling a rebadged Chrysler Corp pickup truck, or any other
vehicle, in the U.S,” the statement said.

Stock Market News

(Reporting by Kevin Krolicki; Editing by Lisa Von Ahn)

Hyundai says no pickup for ‘foreseeable future’