Chinese automaker Great Wall Motors wants to buy Jeep
Chinese automaker Great Wall is interested in buying Jeep, an iconic American brand, from Fiat Chrysler Automobiles, a move that likely would face political opposition in the U.S. and create angst among workers.
Great Wall told trade publication Automotive News it is “deeply interested,” in buying the Jeep brand and has “indirectly expressed interest.”
The Chinese automaker has yet to formally declare its interest in Jeep, but a possible acquisition would be in line with chairman Wang Jianjun’s goal, announced in February, of becoming the top specialty SUV producer by 2020.
Great Wall “has this intention,” the public relations director for Great Wall’s Haval SUV brand, Zhao Lijia, told the Associated Press when asked about Jeep. An employee of the press office for the company headquarters, who would give only his surname, Zhang, said, “Yes, we are interested in Jeep.”
Fiat Chrysler, in a statement, said no discussions have occurred with Great Wall.
“Fiat Chrysler Automobiles confirmed that it has not been approached by Great Wall Motors in connection with the Jeep brand or any other matter relating to its business. FCA is fully committed to its 2014-18 plan, having achieved each one of its targets to date and with only six quarters left to its completion.”
I think they meant to say Wei Jianjun, although I’m sure that President Wang is deeply involved with this acquisition overture also.
I just can’t imagine why FCA would want to separately unload its most precious jewel, a brand that I think can stand on its own. I also don’t think that Great Wall is globally sophisticated enough to hold onto, and make this much coveted brand flourish.
Great Wall has fallen behind by not seizing the electric vehicle initiative early enough, and by not keeping up with Chery and Geely’s bold export outreach.