China’s Guangzhou Automobile says no plan to buy Fiat Chrysler, Auto News, ET Auto

BEIJING: China’s Guangzhou Automobile Group Co Ltd has no plans to acquire automaker Fiat Chrysler Automobiles (FCA) NV, a company spokesperson said on Friday.

“Currently, we don’t have plans to acquire Fiat Chrysler,” Guangzhou Automobile spokeswoman Wu Yunchong told Reuters in a statement.

FCA shares soared on Monday after trade publication Automotive News reported the carmaker rebuffed a takeover from an unidentified Chinese carmaker. Several Chinese carmakers have since publicly denied they plan to buy FCA.

Other Chinese car makers mentioned in the Automotive News report included Great Wall Motors, Zhejiang Geely Holding Group, and Guangzhou Automobile Group .

Also Read: Dongfeng Motor has no M&A plan for Fiat Chrysler: Dongfeng spokesman

Geely Automobile Holdings Ltd said on Wednesday it was not planning a bid for FCA.

(Reporting by Beijing Newsroom; Editing by Himani Sarkar)


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