FAW denies claim it plans to buy Chrysler

First Automotive Works Corp (FAW), China's No 2 auto group by 2006 sales, yesterday denied a report that it would buy Chrysler Group, the floundering US arm of DaimlerChrysler.

The Oriental Morning Post in Shanghai yesterday said State-owned FAW and DaimlerChrysler are in talks to acquire Chrysler, quoting an unnamed source.

However, Gao Yuan, director of FAW's news center, said it had no plans to buy Chrysler.