Chinese Companies Reportedly Interested in Buying Fiat Chrysler
Automotive News reports Chinese company made bid for Fiat Chrysler. Others in China reportedly also interested.
Officials with Fiat Chrysler Automobiles are not commenting on a report that the automaker recently rejected an offer from a Chinese firm to buy the car company.
The report by Automotive News says Fiat Chrysler turned down a bid to sell the automaker to an unidentified Chinese company.
But the report adds that others in China may make additional offers for the Auburn Hills-based automaker.
The head of Fiat Chrysler, Sergio Marchionne, has made no secret of his willingness to explore a sale or merger and is already working with a Chinese company to sell vehicles in that country.
The automaker’s Jeep and Ram brands are both popular and profitable.
But selling one of Detroit’s Big 3 to China could draw the ire of President Trump.
The Trump Administration is threatening to impose trade sanctions against China.
Analysts say China now has the largest vehicle market in the world.
