China's Great Wall Motors considering bid for Fiat Chrysler’s Jeep unit

In a highly ambitious move for China’s fast-growing domestic auto brands, Great Wall Motors is reportedly considering a plan to make a bid to acquire the Jeep unit of Fiat Chrysler.

Revealing the plan, two employees of the Chinese SUV maker said that the possible acquisition of the Jeep unit by Great Wall Motors would be in line with the company’s chairman Wang Jianjun’s goal of becoming the top specialty SUV maker by 2020.

While Great Wall hasn’t yet made any formal announcement about its interest in Jeep, some representatives at the company’s headquarters acknowledged that the company is interested in acquiring Jeep.

Earlier this year, Fiat Chrysler chief executive Sergio Marchionne also announced that the company was ready for sale and couldn’t compete without a tie-up to a larger partner because of high costs of manufacturing and marketing vehicles.

Chinese companies in various fields, including computers and autos, are pursuing a worldwide buying spree to acquire brands and technologies to boost their competitive position in the domestic as well as global market.