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Great Wall Motor – Autobauer from China interested in Fiat Chrysler News

Monday, August 21st, 2017 | Economy

"We are currently looking to buy, we are interested in Fiat Chrysler," a Great Wall spokesman told Reuters on Monday. The Italian car maker Fiat Chrysler (FCA) is not in contact with the Chinese competitor Great Wall Motor. The Chinese had not approached them to talk about the business or individual brands, Fiat Chrysler said. The company is currently working on the 2014 to 2018 business plan.
Given the tensions in the trade policy between the US government and China, a buyer from the People's Republic, according to expert estimates, might encounter resistance in the US.
Especially interested in jeep
The automotive news specialist, referring to an email from Great Wall CEO Wang Fengying reported that the Chinese are particularly interested in the jeep brand Jeep. "Our strategic goal is to become the world's largest SUV manufacturer, with the acquisition of the global SUV brand, Jeep, we would be able to achieve this faster," Automotive News quoted a spokesman for Great Wall.
Fiat shares on the Milan stock exchange rose by about 5 percent to the highest level in 19 years. The world's seventh largest coach has long been looking for a partner or a buyer to keep up with the expensive development of new technologies such as self-propelled cars or electric cars.
Volkswagen and General Motors had rejected public mergering of Fiat CEO Sergio Marchionne in the past. It has given FCA investors a new strategy for the beginning of 2018.
US resistance
Marchionne was previously opposed to a spin-off of the more profitable US business, including the Jeep and Ram brands, from Fiat, the Italian-based volume producer.
Rumors, Chinese manufacturers could take over the whole or part of the group valued at more than 16 billion euros, have already made the round longer. However, because of the American traditional brand Chrysler, industry connoisseurs are skeptical about the prospects of a Chinese buyer.
US President Donald Trump has a critical attitude to export-strong economic power China. The US Foreign Investment Committee (CFIUS) has already delayed or prohibited some American companies' takeovers by Chinese companies.
(AWP / SDA / REU)

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