Le rêve de Jeep s'évanouit alors que le tribunal met définitivement fin à la coentreprise chinoise de FCA | Carscoops

      Years after the joint venture was dissolved, GAC FCA has officially been declared bankrupt.

      15 hours ago

      by Michael Gauthier

      A Chinese court has ruled that GAC Fiat Chrysler Automobiles is bankrupt.

      The Jeep-manufacturing joint venture concluded after Stellantis ended their partnership in 2022.

      Creditors submitted nearly 600 claims that initially amounted to over $1.4 billion.

      With more than one hundred automakers in China, there has been widespread speculation about which few will survive. We can now remove GAC Fiat Chrysler Automobiles from that list, as it has officially been declared bankrupt.

      In a message to creditors shared on social media, the administrator of GAC Fiat Chrysler Automobiles stated they requested the Changsha Intermediate People’s Court to declare the company bankrupt. This action followed opinions from creditors indicating the firm had "no possibility of reorganization."

      The court concurred and approved a bankruptcy asset distribution plan, which was drafted by the administrator and sanctioned by the creditors.

      The administrator expressed gratitude to creditors for their understanding and support. They also committed to "accelerating the closure of this case, protecting the legitimate rights and interests of most creditors, and striving to complete the distribution of bankruptcy assets… as soon as possible."

      The case has been prolonged for several years, with the administrator receiving nearly 600 claims against the company. These claims initially declared a total of $1.4 billion, though later evaluations and audits considerably reduced that figure.

      This outcome was not what was envisioned when the joint venture was formed in 2009. Initially called GAC Fiat, the firm was created to produce vehicles—especially Jeeps—in China. However, the collaboration eventually deteriorated, leading Stellantis to choose to import Jeeps instead.

      H/T to Bamboo Works