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  • William Maley
    William Maley

    Geely Automotive Says It Wasn't The One To Send A Bid For FCA

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      Wasn't Us

    Monday saw a major bombshell report come out stating that multiple Chinese automakers were considering buying Fiat Chrysler Automobiles. In fact, a well-known automaker put out a bid earlier this month, which was subsequently turned down. Today, one of the Chinese automakers rumored to buy FCA said they did place an offer on the table.

    According to Reuters, Geely Automobile’s executive director Gui Shengyue rebutted claims that his company was the one to place the bid.

    "We don't have such plan at the moment," said Shengyue.

    He would go on to say that "a foreign acquisition would be complicated," but did not elaborate. Sources tell the news service some of the complications would deal with the current political climate in the U.S. and regulations.

    Geely and FCA held initial talks late last year according to a source, without going into detail what the talks dealt with. The source goes on to say that Geely is no longer interested in FCA, noting that the company had purchased a significant stake into Malaysian automaker Proton a few months ago.

    That possibly leaves three automakers that we know of in the running - Dongfeng, Great Wall, and Guangzhou.

    Source: Automotive News (Subscription Required), Reuters

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    Good Chinese Double Speak. 

    We not interested, but in reality, if we can push the price down, we buy! 

    If you have ever been to China, they haggle like crazy and never take first, second or third offer.

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    34 minutes ago, riviera74 said:

    OK. Why would anyone buy FCA?  Seriously, Why?!

    Simple, FCA US is what is up for sale after being raped and all profits stolen by FCA Italy. China can gain a complete network of dealerships to get their cheap Cherry auto's into the states.

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