Chinese carmaker Great Wall Motor Company is eyeing up a bid for RAM Trucks and Jeep owner Fiat Chrysler Automobiles.
A Great Wall official told Reuters that the company had “an intention to acquire” all or part of the Italian-American group.
News of the possible takeover bid comes just weeks after a US car magazine, Automotive News, reported that a “well-known Chinese automaker” had made an offer from FCA.
That original report prompted a jump in the firm’s Milan-listed shares, which are up again today.
Great Wall is China’s largest SUV maker and reportedly harbours ambitions of being the biggest in the world.
A move for Fiat Chrysler – the world’s seventh largest carmaker – would give it access to the popular Jeep brand as well as an entry into the US and European markets.
It is also possible that Great Wall is only interested in one or two brands and not the company as a whole.
FCA is yet to comment on the reports, but chief executive Sergio Marchionne is said to be seeking a partner or buyer to help it manage rising costs, emissions regulations and the development of electric and self-driving cars.