Earlier this week, a source cited in an Automotive News report said Geely Holding was one of the Chinese groups apparently interested in purchasing Fiat Chrysler Automobiles. But now an executive with the Geely automotive brand has poured cold water on that theory.
“We don’t have such plans at the moment,” said Gui Shengyue, Geely Automobile executive director, according to Automotive News.
Gui added that the acquisition of a foreign company at this stage would be complicated.
“But for other [Chinese] brands, it could be a fast track for their development,” he said.
The source who had originally spoken to Automotive News, however, insisted that Geely Holding had indeed held talks on a possible acquisition late in 2016.
The source further pointed out that the Chinese group – which already owns Volvo Cars – had since purchased a stake in Proton and Lotus.
