Chrysler imperial

economy - FAW wants to buy Chrysler

According to a report in the Oriental Morning Post of today, picked up by Chinabiz, China's car producer First Automotive Works (FAW) might be offering up to US$ 5 billion for the DChrysler section of DaimlerChrysler. FAW is already a joint venture partner of Volkswagen and produces the Audi in China.

Representatives from FAW are already in the U.S. for discussions with Chrysler, sources say, according to the Oriental Morning Post in Shanghai on Tuesday...Based in Changchun of Jilin Province in Northern China, FAW is a conglomerate of nearly 50 wholly owned or partially owned companies, including joint ventures with Volkswagen and Toyota.

The Volkswagen joint venture with FAW has been more succesful than the one in Shanghai in the past few year by its focus on the high-end sedan, the Audi. FAW intends to strengthen that focus on the high-end sedan.