Beijing Automotive Industry on Monday said it had not talked with Chrysler about buying assets or technology.
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The Chinese Business News, citing an unnamed executive at Beijing Auto, had earlier reported it had initial talks with Chrysler on buying assets and technology as it seeks to expand globally via acquisitions, Reuters reported.
The local report had said Beijing Auto, parent of truck maker Beiqi Foton Motor, was interested in buying some of Chrysler’s vehicle and engine manufacturing facilities as well as technology to help boost development of its own brand of automobiles.
Beijing Auto would be likely to get financial support from the Beijing city government for an acquisition, it added, although it gave no figure for the potential size of a deal.
“We have not held discussions with Chrysler on asset purchases,” the Beijing Auto spokesman told Reuters.
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By GlobalDataThe news agency noted that Chrysler pulled out of a car venture between Beijing Auto and Daimler soon after Daimler sold control of Chrysler to Cerberus Capital Management in 2007, although Chrysler’s 300C sedan is still made at the venture.
Beijing Auto also has a car venture with Hyundai Motor and agreed recently to extend its ties with Daimler into the medium- and heavy-duty truck sectors.
