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China FAW Group interested in acquiring Chrysler

Jorvan From Gasgoo.com| March 15 , 2007 10:54 BJT

It is learned from sources that China FAW Group intends to purchase the subsidiary of DaimlerChrysler Group--Chrysler Motor Company.

Just 10 days ago, DaimlerChrysler Group agreed to sell whole or part shares of Chrysler Corporation to start up its revitalize and reform program: to layoff 13,000 in the next three years, cut 10 to 20% output of Dodge and Jeep brands.

Sources analyze that it is quite possible for FAW to make whole acquisition of Chrysler, which could make FAW develop into an international automobile brand as well as a low cost R&D center. This means has been proved to be a new approach for Chinese enterprises to realize internationalization.

At present, FAW Group owns FAW sedan Brand, FAW Xiali Brand and Haima sedan Brand. It is still difficult for its own brands to help the FAW to become an international enterprise.

In China Chrysler 300C and Jeep brand have been China-made under their joint venture Beijing Auto Companies.

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