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China's Great Wall confirms interest in Fiat Chrysler

SHANGHAI/BEIJING (Reuters) - China's Great Wall Motor Co Ltd is interested in bidding for Fiat Chrysler Automobiles (FCA), a company official said on Monday, confirming reports it is pursuing all or part of the owner of the Jeep and Ram truck brands.

FCA Chief Executive Sergio Marchionne is seeking a partner or buyer for the world's seventh-largest automaker to help it manage rising costs, comply with emissions regulations and develop technology for electric and self-driving cars.

While he acknowledged that Jeep, Ram, Maserati and Alfa Romeo could exist on their own, he appeared to pour cold water on the idea that any of them would be sold - at least not without leaving behind a less profitable "stump" that may struggle on its own.

Great Wall's founder and chairman Wei Jianjun saw opportunity when China began to fall in love with SUVs, and invested heavily in its Haval brand, cutting back on sedans.

The people familiar with the matter told Reuters that Great Wall had been making plans for the United States for some time, mainly by upgrading some key products and improving branding.

READ MORE (Reuters)

  • China's Great Wall eyes Fiat Chrysler bidBBC News
  • Fiat Chrysler Denies Rumors of Acquisition by China's Great Wall MotorFortune
  • China's Great Wall considers bid for Fiat Chrysler Jeep unitWTOP
  • Mark Phelan: What I want to see from whoever buys ChryslerDetroit Free Press
  • China's Great Wall Motors says it's interested in buying Fiat ChryslerWCYB
  • China's Great Wall Contacts Jeep To Open Acquisition
  • Fiat Up on China's Great Wall Motor Takeover
  • Great Wall Motors eyeing Fiat Chrysler's JeepMarketWatch
  • Jeep rumors; China blasts US; Total's dealNBC2 News

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China's Great Wall confirms interest in Fiat Chrysler


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