Great Wall Motors Interested in Acquiring Fiat Chrysler

Great Wall Motors Interested in Acquiring Fiat Chrysler

"Currently, we don't have plans to acquire Fiat Chrysler", Guangzhou Automobile spokeswoman Wu Yunchong told Reuters in a statement, while Gui Shengyue, Executive Director, Geely Automobile, said on the sidelines of an earnings conference when asked if he was interested in Fiat, "We don't have such plan at the moment".

"With respect to this case, we now have an intention to acquire".

"As for the plans for later stages, doing what on which day, this is an issue for the strategy of the top management level", she said.

FCA was not immediately available to comment on interest in the group.

Specialized US website Automotive News reported earlier that Great Wall carmaker had reached out to FCA expressing an interest in buying its SUV brand Jeep.

The information was confirmed to the publication by Great Wall President Wang Fengying, Asia's seventh most powerful woman according to Fortune, who wrote to AN that a connection with the American manufacturer has already been established.

"Our strategic goal is to become the world's largest SUV maker", Automotive News quoted the spokesman as saying, referring to sport utility vehicles. "Acquiring Jeep, a global SUV brand, would enable us to achieve our goal sooner and better [than on our own]".

FCA shares rose 3.9 percent to 11.12 euros in Milan, outperforming a flat market.

Jeep has an worldwide reputation that has been built up since the Second World War.

"Great Wall has a strong track record in making good profits", he told automotive news. "I think Great Wall Motor is eyeing a global strategy, not just the United States", Zhang added.

Fiat Chrysler also owns Alfa Romeo, Maserati and RAM trucks as well as the Fiat and Chrysler brands. Great Wall's SUVs are sold in Malaysia under the Haval brand, which has the H1 and H2 crossovers.

The company earlier this year officially launched a new "Wei" brand of potentially USA -market ready vehicles.

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