Talks with Chrysler LLC on cooperation have stopped, says Great Wall Motor Co. president Wang Fengying.

In June 2008, the two sides signed a letter of intent to share distribution and to swap as well as purchase components from each other.

"Given the current global financial crisis and (Chrysler's) situation, everything is uncertain and fluid. It would be a waste of time to continue the talks since no substantive decision can be made," Wang said in an interview with Automotive News China in Beijing.

"We don't have any talks going on," Wang says. "Our top priority is to seize the time to develop our own business."

Wang admits the global economic recession also affected Great Wall's overseas business.

In a statement, Great Wall says it sold 125,000 vehicles in 2008, of which 55,000 vehicles were exported. But the exports were well below the company's target, company sources say.

Great Wall plans to launch 13 new or redesigned vehicles in 2009 in China, including four cars, five SUVs and four pickups. Wang says the vehicles will be also made available in overseas markets.

Great Wall's main export markets remain Russia, the Middle East and Africa, Wang says.

Wang says Great Wall will transform its two semi-knocked down plants in Russia to completely knocked down plants this year to offset the extra cost caused by the higher tariffs Russia levied on imported cars in 2008.

Wang says in 2009 Great Wall will explore other new overseas markets that have not been severely affected by the global financial crisis.

But she adds: "It's very difficult to make profit in the European market in the short term due to the weak market and lack of confidence in Chinese vehicles there."

Great Wall currently sells the Hover SUV in Italy and Romania.