GAC Fiat Chrysler Automobiles, the joint venture between Stellantis and China's Guangzhou Automobile Group (GAC), has formally declared bankruptcy.
The joint venture shared images of the court ruling issued by a tribunal in China's Hunan province, which confirmed the bankruptcy, in a post on social media.
This act brings a definitive end to the joint venture, which produced Jeep-branded vehicles for the Chinese market. Operations had already ceased in 2022, when bankruptcy procedures began following a prolonged period of declining sales.
(Translated by Agnese Napoletti, editing by Claudia Cristoferi)
Stellantis N.V. is one of the world's leading car manufacturers. The activity is essentially organized around 4 sectors:
- sales of passenger cars and light commercial vehicles: Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys brands;
- sale of luxury vehicles: Maserati and DS Automobiles brands;
- sale of automotive equipment: interior systems, car seats, car exteriors, emission control systems, etc.;
- other: financing services (purchase, rental, leasing, etc.), after-sales services, etc.
Net sales are distributed geographically as follows: the Netherlands (0.8%), North America (41.6%), France (10.3%), Brazil (7.6%), Italy (6.8%), Germany (5.2%), the United Kingdom (5%), Türkiye (3.8%), Spain (2.7%), Belgium (1.5%), China (0.2%) and other (14.5%).
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Investor
Investor
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The MSCI ESG score assesses a company’s environmental, social, and governance practices relative to its industry peers. Companies are rated from CCC (laggard) to AAA (leader). This rating helps investors incorporate sustainability risks and opportunities into their investment decisions.
