Chinese SUV maker Great Wall Motors is considering making a bid to buy Fiat Chrysler’s Jeep unit, spokespeople for the company said Monday, in a possibly ambitious new step onto the global stage for China’s fast-growing auto brands.
Great Wall has yet to formally declare its interest in Jeep, but a possible acquisition would be in line with company chairman Wang Jianjun’s goal, announced in February, of becoming the top specialty SUV producer by 2020.
Great Wall “has this intention,” said the public relations director for its Haval SUV brand, Zhao Lijia, when asked about a report by Automotive News that the Chinese automaker wants to buy Jeep. An employee of the press office for the company headquarters, who would give only his surname, Zhang, said, “Yes, we are interested in Jeep.”
Zhao and Zhang said they had no other details when asked about a possible price. Zhao said it may take some time to assemble a formal bid.
Fiat Chrysler CEO Sergio Marchionne has said the company is for sale and cannot compete globally without a tie-up to a bigger partner due to the high costs of developing and marketing vehicles.
Full Content: Financial Times
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Judge Mehta Questions Both Sides in Landmark Google Antitrust Case
May 2, 2024 by
CPI
FCC Urges Urgent Funding for Removal of Chinese Telecom Equipment from U.S. Networks
May 2, 2024 by
CPI
Former Pioneer CEO Facing Potential Criminal Charges For Colluding With OPEC
May 2, 2024 by
CPI
South Korea’s Antitrust Regulator Greenlights K-Pop Powerhouse Deal
May 2, 2024 by
CPI
Exxon’s Pioneer Purchase Approved, Former CEO Barred from Board
May 2, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI