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  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]