Geely Reportedly Almost Bought FCA

Remember back when Automotive News claimed a Chinese automaker was interested in buying Fiat Chrysler? Most speculation was swirling around Great Wall, which supposedly only wanted Jeep, something that was ridiculous. It turns out that in the shadows, Geely was making an offer for FCA as a whole.

Obviously, the deal didn’t go through. Once again, Automotive News spilled the details. Apparently, Geely made an offer for $20 billion. The deal would’ve given Geely a strong foothold not only in North America and Europe, but also Latin America. Geely already has a huge presence in Asia, so it would be covering all its bases.

That $20 billion offer was shot down for being far too low. The Chinese then offered $22 billion, and that was shot down. Apparently, FCA’s holding company said it could get more for the company by splitting up the brands and selling them off that way. That’s an interesting detail, because there’s been rumors of just that thing happening. FCA is a strange beast, with a motley crew of brands all under one roof.

Supposedly, that $22 billion offer was entertained, if Geely would take everything but Alfa Romeo and Maserati. That wasn’t acceptable to the Chinese, and negotiations ended.

If you’re not aware, Geely’s billionaire main owner bought enough shares of Daimler not too long ago, becoming the largest shareholder. So, the Chinese automaker is still looking to aggressively expand.