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Fiat Chrysler and Guangzhou look to deepen China tie-up

Fiat Chrysler Automobiles and Guangzhou Automobile Group are in talks to deepen their tie-up in China, as the world’s largest car market looks to relax some regulations and Guangzhou prepares to sell its Trumpchi brand in the U.S.

Models, production and sales are at the core of the discussions with Fiat Chrysler, Guangzhou President Feng Xingya said. “Shareholders of both companies are exploring ways to expand the scope of cooperation,” he said.

Fiat Chrysler declined to comment.

Fiat Chrysler’s and Guangzhou’s joint venture was established in 2010 as a 50-50 partnership between the two companies.

The venture sells three locally produced Jeep models, the Cherokee, Renegade and Compass, and also imports the Grand Cherokee and the Wrangler models. Sales at the JV more than tripled to 146,439 units last year.

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With China increasingly accounting for a larger share of revenue, foreign automakers are bolstering their local partnerships. Chinese manufacturers are also exploring markets abroad to become globally competitive. The industry in China is bracing for changes as authorities push to phase out fossil-fuel vehicles and ease limits on foreign ownership in electric-car ventures.

Zdroj: Reuters
21.November 2017