The news that the Chines company Great Wall Motor is interested in acquiring Fiat Chrysler has led the media to speculate whether Fiat Serbia will be acquired too.
An executive from the Chinese company said that they were considering buying Fiat Chrysler Automobili Srbija, and thus indirectly confirming that they are still not sure whether to acquire the entire Fiat Chrysler Corporation (which also produces the Jeep brand), or just segments of it.
Reuters quotes Automotive News which reported earlier on Monday that Great Wall Motor’s CEO, Wang Fengying plans to contact Fiat to discuss acquiring the Jeep brand. “With respect to this case, we currently have an intention to acquire. We are interested in (FCA),” an official at Great Wall Motor’s press relations department told Reuters. He declined to give his name and gave no further details. Two people familiar with the matter said Great Wall Motor had asked for a meeting with FCA to make an offer for all or part of the group.
What does that mean for Fiat Chrysler Serbia?
The Fiat Chrysler Corporation owns 67% of Fiat Serbia while the Serbian government owns the rest. “In case the entire FCA Group should change ownership, the destiny of our factory would mainly depend on the agreement between Fiat’s management and our government”, the Vecernje Novosti daily writes.
The daily goes on to say that the Kragujevac factory is definitely one of the trump cards in the negotiations between FCA and the Chinese since this is one of Fiat’s most technologically advanced facilities in the world.
CEO of FCA Group, Sergio Marchionne has said that he wants to find a partner or buyer for the world’s seventh-largest automaker as costs rise to comply with emissions regulations and develop technology for electric and self-driving cars. So far, however, Marchionne and company chairman John Elkann have not opened the door to selling Jeep or the profitable Ram truck business in North America as standalone units.
(Nova Ekonomija, 22.08.2017)
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