This past week, we reported Chinese automaker had begun to take interest in potentially purchasing Fiat-Chrysler Automobiles, and in fact, one of China’s automakers already presented an offer.
Ultimately, that offer was refused by FCA for being too little. However, we can now cross Geely off of the list of potential buyers. According to Automotive News, Geely is not interested in purchasing FCA at the moment. Geely most recently purchased a 51 percent stake in Proton, which operates Lotus. Before that, Ford sold Volvo to the Chinese automaker.
Gui Shengyue, Geely’s Automobile Executive Director said the acquisition would be too difficult to be worth the effort, “but for other [Chinese] brands, it could be a fast track for their development.” With Geely out of the running, that leaves Dongfeng Motor Corp., Great Wall, Zhejiang Geely Holding Group, or Guangzhou Automobile Group. The latter of the group is FCA’s current joint-venture partner in China.
Chinese delegations have been spotted at FCA’s Auburn Hills, Michigan, headquarters and FCA executives have reportedly met with Chinese automakers in China, per the original report. Nothing is set in stone yet, and FCA hasn’t made a peep surrounding the most recent reports. However, FCA CEO Sergio Marchionne has made it clear he’d like to find a merger partner before he steps down at the end of 2018.