Chery Automobile Co, China’s largest maker of own-brand cars, may consider acquisitions in Europe to help expand overseas as domestic demand tumbles. “There is a possibility for us to acquire some European auto companies with long histories,” Jin Yibo, a Chery spokesman, said by phone on Tuesday, confirming comments by President Yin Tongyao that were reported by China Automotive News.
Jin declined to name the companies that Chery may buy. Ford Motor Co, seeking to raise cash to avoid a US bailout, has approached Chery and other Chinese automakers as it tries to sell its Sweden-based Volvo Car unit, according to three people familiar with the discussions.
