End of the Road for GAC Fiat Chrysler Automobiles

GAC Fiat Chrysler Automobiles, a joint venture between Stellantis and Guangzhou Automobile Group, has been declared bankrupt. The announcement was made in Hunan province, China. The declaration was shared in a court ruling on social media.

GAC Fiat Chrysler Automobiles, the joint venture established between global automotive giant Stellantis and China's own Guangzhou Automobile Group, has officially announced its bankruptcy.

This development was confirmed by a court judgment in Hunan province, as shared by the company through a revealing social media post.

Images of the court's ruling accompanied the announcement, marking a significant downturn in the joint venture's operations.

(With inputs from agencies.)