Fiat-Chrysler Automobiles may not have as many Chinese suitors as once imagined since news broke that it was being eyed by a handful of Chinese automakers for a buyout.
The latest automaker to publicly say “no” is Guangzhou Automobile Group, which is also FCA’s Chinese partner to conduct business in the People’s Republic. Per Chinese law, outside companies must partner with a Chinese company.
Reuters reports Guangzhou has absolutely no interest in an FCA buyout and said there are no plans to acquire the U.S. automaker. The news follows Geely, which also publicly stated it has no intention of buying FCA or any of its brands.
However, Great Wall Motor Company has stepped forward with interest in FCA as a whole and the Jeep brand alone. Great Wall is determined to become the world’s largest producer of SUVs and acquiring Jeep would be a major step towards achieving such a goal. Great Wall said it has reached out to FCA to begin negotiations.
The likelihood of Jeep being sold off to Great Wall seems rather low at the moment, though. Analysts fail to see how Great Wall will finance such a deal, one that could feature a sale price of $33 billion for Jeep, and the complications among production and dealerships would be immense.
FCA released a statement yesterday rebuking the report and said it had not been approached by Great Wall over the sale of Jeep, the company itself or any other facets of its business.