Industry speculation about the future of
Jaguar brand reached a crescendo this week, with
insiders' favorite rumor
as the lead candidate to buy
(supposedly destined for its
mentioned as a likely companion in a package deal. Well, its time to reset the
mill - Hyundai issued a statement Friday saying it is not interested in the luxury brand, either for itself or for Kia.
Hyundai said its investments in the expansion of overseas production in North America, Europe, China and
, and in alternative powertrain technologies, rule out any acquisitions at this time. The Korean automaker confirmed that it previously studied acquiring a luxury brand to add to its portfolio, but said the option was dropped.