. . . and it may get its hands on Fiat Chrysler too

CHINA is hoping for an extra slice of the global car industry – and may even get its hands on Jeep.

Great Wall Motor, the country’s biggest pick-up truck manufacturer, is eyeing up Fiat Chrysler Automobiles (FCA), the Italian-US car maker that owns the iconic Jeep brand developed during the Second World War and is worth £15bn. In a move likely to set alarm bells ringing in the White House amid fears over China’s increasingly powerful role in the global economy, a Great Wall official said: ‘We currently have an intention to acquire. We are interested.’

FCA, which also owns Fiat, Dodge, Chrysler, Alfa Romeo and Maserati, said it had not been approached. But sources suggested Great Wall had asked for a meeting with FCA.

The deal would be China’s largest automotive industry deal to date – dwarfing national competitor Geely’s £1bn purchase of Volvo cars in 2010. Geely also owns London Taxi Company, maker of the iconic black cab, after buying it out of receivership in 2012.