(Yicai Global) Aug. 23 -- Multinational car company Fiat Chrysler Automobiles [NYSE:FCAU] (FCA) has explicitly denied holding talks with private Chinese automaker Great Wall Motor Co. [HK:2333] (GWM) regarding the latter's potential acquisition of FCA's Jeep brand.

In line with its responsibilities as a listed company, GWM confirmed it has not formed any relationship with directors at FCA nor has it entered into any discussion regarding an acquisition of assets, the company said on Aug. 22.

GWM intends to acquire the Jeep brand though it has not approached FCA so far. The company also stated it has conducted relevant research on the brand, but no substantive progress has been made.

GWM is the largest sport utility vehicle maker in China. An acquisition of Jeep could help it accrue increased expertise, and Great Wall could leverage the Jeep brand to further market its own Haval series.

GWM's President Wang Fengying wrote in an email to Automotive News that the firm intends to purchase Jeep, a previous Automotive News report said.

"We do have the intention to acquire the Jeep brand and will continue to keep an eye on it," Zhao Lijia, GWM Public Relations Manager, told Yicai Global on Aug. 21.

Jeep brand is considered to be among FCA's most valuable assets with annual sales volume of 1 million units globally. FCA may spin off its Jeep brand into a separate business in the future, FCA Chief Executive Sergio Marchionne said in April.