Chinese manufacturer Great Wall Motor Company is looking to acquire Fiat Chrysler Automobiles (FCA).
An unnamed official at Great Wall Motor confirmed reports to Reuters that it was looking to pursue all or part of the group.
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Reports originally began to circulate late last week that a Chinese manufacturer was looking to acquire the Italian American manufacturing group.
As well as Fiat and Chrysler, FCA owns the Jeep, Alfa Romeo, Dodge, Maserati, Abarth and Ram brands.
It would not be the first time a Chinese company had expanded internationally through an ambitious acquisition. In 2010 Geely, a brand almost unknown outside of China, bought Volvo from Ford for $1.8bn.
Any acquisition of FCA Group is likely to dwarf this figure, however. FCA has a market cap of almost $20bn (£15.5bn).
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By GlobalDataFCA is also larger than Great Wall Motor. For the six months ending June 30 2017, FCA shipped over 2.3m vehicles, and earned revenues of €55bn (£50bn). In comparison, Great Wall Motor sold just over half a million vehicles for the year to the end of July. General Wall Motor also has a smaller market cap than FCA Group – currently at HK$124.8bn (£12.4bn).
