Great Wall Motor of China Sets Its Sights on Jeep<br />None of that deterred one Chinese automaker, Great Wall Motor Company, from saying on Monday<br />that it was interested in buying the Jeep brand — a quintessentially American car that is known for its sport utility vehicles and pickup trucks, but that also has a strong resonance in China.<br />Fiat Chrysler Automobiles, the Italian-controlled company<br />that owns Jeep, said it had not heard from Great Wall, however, suggesting that considerable ground would have to be covered before a deal could be reached.<br />Gerald C. Meyers, at the time the chairman and chief executive of American Motors, which owned the Jeep brand, has said<br />that he initially saw China as a low-cost place to build vehicles for the Australian market, and never anticipated that the country would grow into such a major well of customers.<br />Volvo’s revenue has grown, in part because of rising sales in China, and Geely has provided funds<br />that have allowed Volvo to invest more in new products and expansion, including at a new factory in Berkeley County, S.C. Last month, Volvo became the first traditional carmaker to say it would phase out cars powered solely by diesel or gasoline motors.<br />The country is already the largest market for battery-powered cars,<br />and buying an existing auto brand could provide a platform for a Chinese company to sell electric cars abroad.<br />In a statement on Monday, Fiat Chrysler said it had "not been approached by Great Wall Motors in connection with the Jeep<br />brand, or any other matter relating to its business." The carmaker’s shares were nevertheless up 4 percent in Milan.
