Great Wall says it is interested in buying Jeep as the global brand could excel it to become the world’s leading SUV maker
We let you into the recent speculations that Chinese automakers are queuing up to buy Fiat Chrysler Automobiles amidst denial from several related parties. One of the suspected brands, Great Wall Motor Co., has interestingly announced that it has the interest to purchase Jeep.
It makes all the sense as Jeep is a major sales contributor to the Italian-American conglomerate with wider footprint that some of the companies within the group. An email sent by Great Wall’s President Wang Fengying to Automotive News has confirmed the desire in buying Jeep.
Also Read: Chinese Automakers Show Interest In Buying FCA
A spokesperson for the Baoding-based manufacturer said that it could make Great Wall an ace brand in the SUV space. Great Wall seems to be planning big with the potential acquisition of Jeep beyond its country. It is the largest SUV and pickup truck maker in its home and sold over a million units last year worldwide with 26 percent growth compared to 2015.
He further commented they are monitoring the growth of Jeep for a long time and purchasing a global brand like Jeep will enable it to achieve the goal of becoming world’s largest SUV maker sooner. FCA’s chief executive Sergio Marchionne has not commented on the matter but earlier this year he said the iconic American SUV specialist has the capability to function on its own financially.
Xu Hui, the Great Wall spokesperson, gave a sneak-peek of how the deal could be achieved as his company might make use of the accumulated profits and access to capital market to get the agreement signed (assuming if it is up for sale). According to reports, Jeep worth $33.5 billion more than the other brand in the group combined.
Source: AutoNews