About a year ago, Fiat-Chrysler Automobiles admitted that they are looking for a new partnership deal that can help them financially and the lack of options available has left them with companies from China to choose from.
Among them was Great Wall, which was quick to react when they expressed interest in owning Jeep soon after FCA made such a remark. Months later, FCA responded by saying that they have not received any offers, meaning that Great Wall has not made any approach to back up their interest.
On the other hand, there was Geely which attempted a $22 billion takeover but failed. The high-flying company from China has been buying out major shares from a number of automotive companies and some names that are worth mentioning are Volvo, Daimler, Proton and Lotus.
It was discovered earlier today that Geely handed FCA a $22 billion takeover deal, which got rejected by the receiver for reasons unknown.
This is interesting to watch because Fiat-Chrysler is in dire need of strong financial backing to move forward and the fact that they disagreed to the $22 billion bid from Geely may bite them back in the future to come.