China’s Great Wall Motor is bidding to take a share or complete control over Fiat-Chrysler.
The Italian-American group is the world’s seventh-largest car maker, but has been unable to raise enough capital to match its competitors in the race for self-driving technology. In addition, whoever buys FIAT will also pick up litigation costs emerging from the ongoing diesel emissions scandal.
Great Wall has also expressed interest in buying FIAT’s 75-years old Jeep brand. The Chinese automaker makes Sports Utility Vehicles (SUVs) and aims to leverage the brand’s status as it tries to emerge as the biggest automaker of its kind in the world.
FIAT is the most emblematic company of Italy and owns brands such as Alfa Romeo, Maserati, and RAM trucks.
The acquisition would provide the Chinese manufacturer with a bridge to the all-important US market, as well as Europe.