Chinese Automaker Confirms It's Interested in Buying Jeep
It turns out China’s Great Wall is only interested in buying Jeep, not the entire Fiat Chrysler Automobiles (FCA) group.
Reports of a Chinese automaker interested in acquiring FCA has been the topic of discussion for the past couple weeks, but recently three major Chinese automaker denied plans to acquire the Italian-American automaker. Now, Great Wall has confirmed to Automotive News it is interested in acquiring the Jeep brand and has reached out to FCA to see if a deal can be negotiated. The Chinese automaker is aiming to become the world’s largest SUV maker and naturally acquiring Jeep would help reach its goal quicker.
Great Wall says it has not yet made a formal offer or met with FCA’s board, but is “deeply interested in the Jeep brand and have paid close attention to it for a long time.”
SEE ALSO: Major Chinese Automakers Deny Plans to Acquire FCA
The Chinese automaker built a research and development facility in Detroit this year and has been using that to learn more about the U.S. market. It also has a research and development center in Los Angeles.
Last April, FCA CEO Sergio Marchionne told analysts it’s possible the automaker could spin Jeep off on its own. If Jeep becomes available as a standalone brand, there could be a lot more bidders than just China’s Great Wall.
[Source: Automotive News]
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Jason Siu began his career in automotive journalism in 2003 with Modified Magazine, a property previously held by VerticalScope. As the West Coast Editor, he played a pivotal role while also extending his expertise to Modified Luxury & Exotics and Modified Mustangs. Beyond his editorial work, Jason authored two notable Cartech books. His tenure at AutoGuide.com saw him immersed in the daily news cycle, yet his passion for hands-on evaluation led him to focus on testing and product reviews, offering well-rounded recommendations to AutoGuide readers. Currently, as the Content Director for VerticalScope, Jason spearheads the content strategy for an array of online publications, a role that has him at the helm of ensuring quality and consistency across the board.
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Assuming Great Wall could actually acquire Jeep, I wonder how that would impact the resale value of my 2014 Grand Cherokee. I've never been overly fond of FCA (with 15 recalls, for starters) but would Great Wall actually be better for the brand...or worse?