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August 23, 2017

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No pacts to buy FCA Jeep brand

CHINESE automaker Great Wall Motor Co Ltd has not contacted Fiat Chrysler Automobiles NV’s board nor has it signed any agreements with the Italian-American automaker, it said yesterday.

Automotive News first reported on Monday that Great Wall Motor President Wang Fengying planned to contact FCA to discuss acquiring the Jeep brand.

Two people familiar with the matter told Reuters on Monday that Great Wall Motor had asked for a meeting with FCA to make an offer for all or part of the group.

"We took interest in FCA but there has been no concrete progress so far," Great Wall Motor said in a filing to the Shanghai stock exchange yesterday.

“We have not had any negotiation, nor signed any agreements with FCA,” the filing added.

Trading in Great Wall Motor’s Shanghai-listed shares resumes today, after it was suspended on the company’s request.


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