Three years after announcing its withdrawal from the Chinese market, GAC Fiat Chrysler Automobiles (GAC-FCA) has officially succumbed to its financial woes. On July 8, the joint venture announced its inability to reorganise, leading its administrator to file for bankruptcy with the Changsha Intermediate People’s Court in Hunan Province, a move supported by creditors.
GAC-FCA’s predecessor, GAC Fiat, was established on March 9, 2010, as a 50:50 joint investment between GAC Group and Stellantis Group (formerly Fiat Chrysler Automobiles), with a total investment of approximately 17 billion yuan.
Initially, GAC-FCA primarily produced Fiat brand models such as the Viaggio, Freemont, and Bravo. In June 2012, the…