Great Wall Breaks Off Talks with Chrysler
March 17,2009
Great Wall Motor says it has broken off discussions on cooperation in China with Chrysler, describing the talks as "a waste of time."
Great Wall President Wang Fengying said in an interview: "Given the current global financial crisis and Chrysler's situation, everything is uncertain and fluid. It would be a waste of time to continue the talks since no substantive decision can be made.... Our top priority is to seize the time to develop our own business."
The two companies last June signed a letter of intent to share distribution and components in China. Chrysler spokeswoman Daphne Zheng confirmed that the agreement is "on hold," according to the publication.
Zheng added: "Both Chrysler and Great Wall are better off focusing on their immediate priorities. For Chrysler, business development in China is not included in those immediate priorities."
Automotive News China said Great Wall plans to launch 13 new or redesigned vehicles this year in China, including four cars, five SUVs and four pickups, with some of those products also being shipped to overseas markets.
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