Chrysler Ceases Talks with Great Wall Motor
March 30,2009
US auto giant Chrysler LLC has lately terminated the cooperation negotiations with Great Wall Motor Co., Ltd., discloses Wang Fengying, president of the Chinese automaker.
Analysts say that the termination results from the tie-up of the US auto giant and Italy's Fiat. The Chinese automaker denies the saying, stressing that Chrysler and Fiat have just signed a nonbinding agreement.
For the moment, Great Wall Motor will pay the most attention to the development of its proprietary brands, and it has not contacted any partner yet, tells the president.
The automaker sold 125,000 units in 2008, including 55,000 units for export and falling far behind the goal of 200,000 units. This year, it will release 13 new products and reach the 200,000-unit goal.
Notably, after the departure with Beijing Automotive Industry Holding Co., Ltd., Chrysler ceased the cooperation talks with Chery Automobile Co., Ltd. (CAC), a fast growing carmaker in China, in late 2008.
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