While the Italian-American automaker has been on the open market looking for a change in ownership for quite some time now, it has reportedly decided to decline a “proposal” coming from China.
According to the rumor mill, a yet to be revealed Chinese automaker has been serious about taking over Fiat Chrysler Automobiles, which had been looking for a partner or buyer for about two years. According to different reports, the Chinese carmaker interested in buying FCA is none other than well-known Guangzhou Automobile Group, or GAC. It seems the executive of the Chinese group had been proposing a serious premium over FCA’s market value – but according to the report the offer was turned down. And this might be due to FCA’s desire to get the best possible deal, as rumors suggest there’s more than one interested Chinese auto giant involved in negotiations.
According to different reports, representatives from Great Wall Motor Company, Dongfeng Motor Corp., Zhejiang Geely, and the aforementioned Guangzhou Automobile Group have been paying visits to FCA’s Auburn Hills, Michigan headquarters to discuss possible new relationships. GAC on its own is FCA’s partner in China for a joint venture that handles manufacturing for various models such as the Fiat Viaggio, Jeep Cherokee, and the recently introduced Jeep Yuntu concept. And it seems the FCA sale is not complete as well – the company would part ways with the Jeep, Ram, Chrysler, Dodge, and Fiat brands, but not Maserati, Alfa Romeo, and Ferrari.
Via Automotive News