· Geely Dongfeng has successively denied the rumor of acquiring FCA

Reuters said on August 17 that the news of the intention to acquire Fiat Chrysler (FCA), Dongfeng Motor Group spokesman Zhou Mi said that Dongfeng has no plans to acquire all or part of the FCA.

On August 14, the US "Automotive News" broke out, a well-known Chinese car company has bid more than once this month to buy FCA, and several other Chinese car companies showed interest in acquisition. In this report, Dongfeng Motor is one of the potential acquirers. According to reports, in addition to Dongfeng, Great Wall Motor (601633, shares), Zhejiang Geely Holding Group and Guangzhou Automobile Group (601238, shares) also showed interest in acquisition.

Foreign media has asked Dongfeng Motor whether it is interested in the overall acquisition of FCA, or the purchase of FIA's Fiat or Chrysler brand, or a specific brand or technology of FCA. I responded by email and said, "At the moment, we don't have a similar plan."

Just before Dongfeng denied that it would acquire FCA, Geely Automobile had indicated that it had not planned to acquire FCA. On August 16, Geely's chief executive, Gui Shengyue, was asked if he was interested in acquiring Fiat. Geely has no such plan yet. Gui Shengyue only said that overseas acquisition is a complicated process and did not give a specific explanation. While denying that it has its own acquisition plan, Guisheng's acquisition of other car companies may say, “But for other Chinese brands, (acquisition) may become a fast track for its development.” However, Reuters quoted informed information. According to sources, FCA and Geely held preliminary talks last year. As for the nature of the negotiations, the insiders did not elaborate.

Another person familiar with the matter told Reuters that China's SUV car maker Great Wall Motor and state-owned car company Guangzhou Automobile Group are considering trading with FCA, but it is unclear whether the car companies are planning to acquire FCA as a whole or some brands. However, in June this year, Malchonet said that FCA's partner in China, GAC Group, was not interested in acquiring shares.

On August 16, the FCA, the protagonist of the event, refused to respond, making the whole rumor more confusing. However, in April of this year, FCA CEO Malchow has stopped looking for mergers and said that FCA will stick to its business plan. Recently, Malchow has promised investors to provide a new strategic plan early next year. However, it is not known whether Malchonet, known for his fickleness, will change his mind again.

On the other hand, overseas acquisitions are not something that one party wants to buy and one wants to sell. The government also plays an important role. Regarding the acquisition of FCA by Chinese car companies, another person said that no matter which car company is acquired, it will face political and regulatory obstacles in the United States. US President Trump has been quite vocal about China's trade habits. Earlier this week, he ordered a trade investigation against China to ensure that intellectual property and technology in the United States were protected. In addition, the US Republican Party and the Democratic Party are exerting increasing pressure on China's commercial trade, and demand that the US government resolutely oppose Chinese companies acquiring US companies.

Due to the review by the US Foreign Investment Committee (CFIUS), many Chinese buyers' purchases of US companies were cancelled or delayed. Some experts told Reuters that CFIUS is currently reviewing about 250-300 transactions in 2017.

Bushing Cover

It is SINOFUJI's concern that the bushing cover made by traditional manufacturing process, had been presented that the appearance is almost irregular, the dimension consistency is poor, and the insulation performance is unsatisfied.