Chinese Automakers to Buy Chrysler & GM?

This one shocked even me this morning:

“Chinese carmakers SAIC and Dongfeng have plans to acquire GM and Chrysler, China’s 21st Century Business Herald reports. LINK A National Enquirer the paper is not. It is one of China’s leading business newspapers, with a daily readership over three million]. This newspaper cites a senior official of China’s Ministry of Industry and Information Technology– the state regulator of China’s auto industry– who dropped the hint that “the auto manufacturing giants in China, such as Shanghai Automotive Industry Corporation (SAIC) and Dongfeng Motor Corporation, have the capability and intention to buy some assets of the two crisis-plagued American automakers.” These hints are very often followed with quick action in the Middle Kingdom. The hints were dropped just a few days after the same Chinese government gave its auto makers the go-ahead to invest abroad. And why would they do that?

Full Article Here from The Canadian National

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2 Responses to Chinese Automakers to Buy Chrysler & GM?

  1. Well as long as the Chinese keep dumping cash into Jeep’s marketing than it’s a win – win for everyone. Pray they make the Jeep brand stronger.

  2. True it might be good for the short-term, but if China keeps buying up US companies that could be bad news for the future of the US. Great article!

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