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Our breaking news let's take you back the North American auto show where Fox Business is now confirming Jeep.
Is close to a deal to build some of its vehicles in China the company's president.
Things are very and Jeff Flock.
Indeed it's a been a big show for Chrysler this was the truck of the year the ram.
A truck 15100 and now big news also from G they already have big news and they had some big unveils but -- Bentley.
Thanks a manly man to run cheap.
You just have confirmed to us that you have a deal to build jeeps in China correct.
You have always -- really is the beginning of the process we have signed a corporation expansion agreement with its joint venture prominent ones -- it's.
To incorporate Jeep into the joint venture now tell me we have -- went through this with presidential candidate Romney saying they're gonna take jeeps jobs and move -- to China.
Explain to me how this works are you moving jobs from the US to China and now -- -- in on I think we've been very clear on the on that topic.
And this is volume that's not available to us because we just -- with a mind that this local production full China in China's only jeeps to be made in China sold in China.
Yes that's right okay well.
The -- -- they're gonna sell there -- updated ones that.
That they have a -- introduced at the show three different new updates.
I guess the biggest sexiest one for you was a Grand Cherokee but first.
Your compass and patriots also updated.
Yeah absolutely yeah I mean spending reflects these two years ago but we updated them again -- -- styling welcome front and rear as well as some interior work for the big news on compass is.
Only six -- electronic automatic transmission.
I was aside and the -- gonna -- new transmission to the side side issue.
But the Grand Cherokee to -- the big news on that has to do with diesel power correct.
Yet we've done a massive update on Grand Cherokee -- -- 2000 full tank.
We bring the diesel engine to the US so we've been here before with these -- known in this -- and now we've got thirty miles per gallon.
730 miles from a single -- of -- those big news for this vehicle and -- not to beat divorce on on these subjects being made in China but -- Marchionne your boss who.
Probably works harder the new but you guys both work pretty hard.
-- has said.
The Grand Cherokee is -- US made vehicle the Wrangler which we just saw a moment ago is a US made vehicle you're not gonna make those.
Now I think you have to look at whether segments are around the world in the biggest segments of these vehicles -- -- in North America and but the Jeep is an American brand is that it's a global law -- and everybody recognize where it's come from -- They -- homes on the one hand their Wrangler and grand cherokees very important for us that they have to heritage in the roots here in the US.
Before we get away you've got a lot of competition in the space the Grand Cherokee has been deemed most awarded SUV ever.
Obviously the explorer is a big one but now VW just introduced now -- own version you -- you haven't seen any yet.
I'll show it to -- right now we got pictures -- it it is called the cross blue.
They also want a piece of this -- what about the competition.
Well you know we've we've been I would do it could very well over the last two years -- this vehicle in terms of the competition -- more than doubled -- segment share with the appetites.
Which include by the way and own new -- bay transmission not just the diesel.
We certainly gonna continue that momentum so we've been there before and that we're not gonna back them Mike -- thank you so much for the breaking news news that's a lot to any newscast folks and you heard it here.
First on the Fox Business Network and we.
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