China’s Great Wall Motor plans Fiat Chrysler purchase

AFP, BEIJING: China’s Great Wall Motor signalled yesterday its intention to make an ambitious acquisition deal with Italian-American car maker Fiat Chrysler Automobiles following a report that it wants to buy the Jeep brand.

An agreement would be a major coup for the Chinese auto industry, though it may cause political waves in the United States, where President Donald Trump has railed against his country’s trade imbalance with the Asian giant.

Great Wall Motor ranks only as the seventh biggest Chinese auto company in terms of sales -- 1.07 million in China last year—but any purchase of FCA would take the firm to another level.

“There is an intention to make the purchase,” a Great Wall Motor spokeswoman told the news agency, though she declined to say if the possible deal would be for the entire auto giant or just one of its brands.

The US car industry publication Automotive News reported earlier that Great Wall Motor president Wang Fengying had said in an email that her company intended to buy FCA’s Jeep brand.

Chinas Great Wall Motor plans Fiat Chrysler purchase

AFP, BEIJING: Chinas Great Wall Motor signalled yesterday its intention to make an ambitious acquisition deal with Italian-American car maker Fiat Chrysler Automobiles following a report that it wants to buy the Jeep brand. An agreement would be a major coup for the Chinese auto industry, though it may cause political waves in the United States, where President Donald Trump has railed against his countrys trade imbalance with the Asian giant. Great Wall Motor ranks only as the seventh biggest Chinese auto company in terms of sales -- 1.07 million in China last yearbut any purchase of FCA would take the firm to another level. There is an intention to make the purchase, a Great Wall Motor spokeswoman told the news agency, though she declined to say if the possible deal would be for the entire auto giant or just one of its brands. The US car industry publication Automotive News reported earlier that Great Wall Motor president Wang Fengying had said in an email that her company intended to buy FCAs Jeep brand.