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Report: Geely, Dongfeng not interested in acquring Fiat-Chrysler

Report: Geely, Dongfeng not interested in acquring Fiat-Chrysler image

Marcus De Guzman / Fiat-Chrysler Automobiles | August 18, 2017 11:44

No takeover for Fiat-Chrysler Automobiles says Geely, Dongfeng

Yesterday, it was reported that several Chinese automakers were interested in buying Fiat-Chrysler Automobiles (FCA). Based on credible sources, Dongfeng, Great Wall, Geely and Guangzhou Automobile Group (GAC) are the four auto brands that have shown interest in buying the Italian-American car company.

In a new report however, both Dongfeng and Geely have stated that they have no plans in acquiring FCA. Zhou Mi, a Wuhan-based spokesperson for Dongfeng Motor Corp., recently told Reuters in an email interview that the automaker has no plans in buying FCA.

Meanwhile, Geely denied that it had plans to make a takeover bid for FCA.

“We don't have such plan at the moment” said Gui Shengyue, executive director at Geely Automobiles.

In addition, Gui said that a foreign acquisition of another brand will be too complicated. He did mention however, that other brands may take advantage of it to fast track their automobile development.

Great Wall and GAC have yet to release a statement about the matter. Although GAC is already FCA's joint venture partner in the People's Republic of China. If ever a takeover bid or buyout is in the works, GAC would most likely be the top bidder.

 

Sources: Automotive News, Reuters