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FCA Could Be Bought By The Chinese Any Day Now
carscoops.com
Fiat Chrysler chief Sergio Marchionne has made no secret of his desire for another merger. But without no major automakers in Europe or America showing any interest, Marchionne's switching his focus to the Far East. And it could bear fruit in the form of a buyout at any moment.
Automotive News reports that FCA has been entertaining offers by several major Chinese automakers. Apparently none of them have been sizable enough, but if any of the leading contenders should increase their bids sufficiently, it could be as simple as signing on the dotted line and handing over the keys to the kingdom.
Among those identified as expressing interest are Guangzhou, Geely, Dongfeng, and Great Wall. FCA and Guangzhou already partner on a joint venture to manufacture in China for the local market, while Geely in particular has been snapping up foreign automakers one after the other – including Volvo, London Taxi, Proton, and Lotus.
The impetus for the foreign expansion reportedly comes from the Chinese government, which has been encouraging domestic manufacturers across multiple industries to buy up companies in their field around the world.
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