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GAC-FCA Joint Venture to File for Bankruptcy
AMSTERDAM, October 31, 2022 – The shareholders of the GAC-FCA Joint Venture, Guangzhou Automobile Group Co., Ltd. and Stellantis NV, have approved a resolution authorizing the Joint Venture to file for bankruptcy, in a loss-making context. Stellantis fully impaired the value of its investment in the GAC-FCA JV and other related assets in its first half 2022 financial results. Stellantis will continue providing quality services to existing and future Jeep® brand customers in China.
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About Stellantis
Stellantis NV (PARIS:STLA) is one of the world‘s leading automakers and a mobility provider. Its storied and iconic brands embody the passion of their visionary founders and today‘s customers in their innovative products and services, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Powered by our diversity, we lead the way the world moves – aspiring to become the greatest sustainable mobility tech company, not the biggest, while creating added value for all stakeholders as well as the communities in which it operates. For more information, visit www.stellantis.com.
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Full story available on Benzinga.com
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