Chery: no intention to acquire Chrysler

According to news report, the Chrysler Group under DaimlerChrysler AG and Chery Automobile Co. Ltd. is negotiating on expanding cooperation. However, Chery has no intention of purchasing parts or all of Chrysler.

A source said Chery, a Wuhu based automobile manufacturer, is in discussion with Chrysler Group Ltd, to establish production parts and complete vehicle in China. However, the source, who declined to be named, said the negotiations still at the initial stage.

Chrysler Group had taken a step forward on the basis of the agreement announced in January; Chrysler Group announced the Group would sell Chery production but under its own brand name in North America, Europe. The agreement still requires the approval of the authorities.

A senior from Chery said that cooperation with the Chrysler Group on a wide range is under way. However, he declined to disclose details.

Jin Yibo, deputy sales general manager of Chery Automobile Company said to the Dow Jones news agency, Chery has no intention to acquire Chrysler.