Chery wants to re-examine it’s deal with Chrysler to develop Chrysler-branded small cars for numerous markets, said Zhang Li, Chery Automobile Co Ltd’s general manager. The project has been halted for the moment and awaits renegotiation of the agreement.
This is because Chrysler has recently changed hands, now belonging to private equity firm Cerberus Capital Management LP thanks to last week’s US$7.45 billion deal. Chrysler spokesperson Mary Gauthier said Chrysler’s global growth plans remains the same, and the new owners Cerberus has not changed any of those goals.
I suppose Chery just wants to play it safe and make sure Cerberus is fully aware of all details of the plan.