Chinese car maker Great Wall looks to snap up Fiat Chrysler
The future of Fiat Chrysler Automobiles has been thrown into confusion after Chinese car maker Great Wall Motors said it planned to buy parts of the Italian-American automotive business - a claim that was quickly refuted by FCA.
Shares in FCA surged on Monday after Great Wall said it "intended" to make a move for car maker, stepping into the spotlight after a week of rumours swirling around the identity of a potential bidder.
Industry analysts believe Great Wall - which is focused on SUVs - could be eyeing FCA's Jeep brand, as it looks to bolster its own range of rugged vehicles.
However, FCA attempted to quash speculation, saying in a statement that it "had not been approached by Great Wall relating to Jeep or any matter relating to its business", and adding it was "fully committed" to its long-term business plan.