China’s GAC-Fiat Chrysler Joint Venture Declared Bankrupt Amid Mounting Debts

A Fiat Chrysler Automobiles (FCA) sign is at the U.S. headquarters in Auburn Hills, Mich., on May 25, 2018. Rebecca Cook/Reuters

News Analysis

GAC Fiat Chrysler Automobiles, once a flagship joint venture between China’s Guangzhou Automobile Group (GAC) and the multinational Stellantis, has officially been declared bankrupt by a court in Changsha, China, after years of financial struggles and unsuccessful attempts at restructuring.