BAIC: We are not to buy Chrysler!

Beijing Automotive Industry Co. (BAIC) today denied media reports it has been talking to Chrysler LLC about purchasing certain assets or technology.

A report appeared in the Chinese Business News, which cited an unnamed Beijing Auto executive as its source, said BAIC was interested in buying some of Chrysler’s manufacturing facilities as was looking to the Beijing city government for financial support.

Chrysler was part of a joint car venture between BAIC and DaimlerChrysler, but pulled out of the agreement after Daimler sold Chrysler to Cerberus in 2007. The Chrysler 300C sedan is still made at the venture.

In December, Chinese newspaper Securities Daily reported that Anhui-based Chery was going to buy assets from Chrysler for its overseas expansion, backed by a 10 billion yuan ($1.46 billion) loan from the Export-Import Bank of China. Both Chery and Chrysler denied the rumor.

source: auto.163

Breaking: Chinese automaker to buy Chrysler?

Beijing Automotive Industry Co, a Chinese automaker, the parent of truck-maker Beiqi Foton Motor Co and Chinese partner of Hyundai Motor and Daimler AG, is interested in buying some of Chrysler’s vehicle and engine manufacturing facilities as well as technology to help boost its development of its own brand of automobiles.

Although talks are on going between the two auto makers, it seems that BAW are feeling confident about their planned purchases.

source: auto.163