Fiat Kragujevac not to be sold – Italian-American company not planning to let Chinese acquire brands

The automotive company Fiat Chrysler Automobiles (FCA) does not intend to split the operations or sell individual brands to China or other partners, says Sergio Marchionne, CEO of FCA.

– We're not going to break up anything. We have no intention of breaking it up and giving it to the Chinese – Marchionne told the press at the North American International Auto Show in Detroit.

He add that the sports car brand Jeep would help FCA double its net profit. FCA's stock jumped by over 30% this year, following the optimistic projections for the automotive sector, the growth of sales and the speculations that FCA will enter strategic agreements in Marchionne's final year as the head of the company.

Reuters reminds that rumors have resurfaced that Guangzhou Automobile Group Co Ltd might be interested in snapping up part of FCA.

Media have reported on Chinese intentions to acquire the Italian-American automotive company, or at least a part of it, including brands such as Jeep and Ram trucks, on several occasions.

The news that the Chinese producer Great Wall Motor Co is interested in pruchasing FCA led to the speculations that Serbia might be involved as well. However, it seems that Marchionne has put a stop to all the speculations, at least for now.

FCA Srbija Kragujevac

Fiat Chrysler Automobiles

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Guangzhou Automobile Group Co Ltd

Great Wall Motor Co

Sergio Marchionne

North American International Auto Show in Detroit

Jeep

Ram

Fiat Kragujevac

FCA Kragujevac

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