Great Wall Motor SUV

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Nice Wall Motor has mentioned it has not held talks with Fiat Chrysler, placing a potential bid for its Jeep model doubtful.

The Chinese language automaker confirmed it had researched Fiat however made no substantial progress towards a deal.

In a press release to the Shanghai inventory trade on Tuesday, it mentioned there was a “nice deal of uncertainty” over any potential bid.

On Monday the carmaker expressed interest in shopping for some or all of Fiat.

However in its newest assertion Nice Wall, China’s largest SUV maker, appeared to shift gears.

The corporate mentioned it had not “established contact with the CEO of Fiat Chrysler”, nor signed any paperwork with the agency.

Fiat Chrysler, the world’s seventh largest carmaker, mentioned on Monday it had not acquired an method from Nice Wall.

The agency’s chief govt Sergio Marchionne is searching for a associate or purchaser to assist it handle rising prices, emissions rules and the event of electrical and self-driving vehicles.

Nice Wall offered simply over 1,000,000 autos final yr, largely in China, which is now the world’s largest automobile market.

Buying and selling in Nice Wall Motor shares will resume in China on Wednesday following a suspension.