Guangzhou-Fiat Chrysler Automobiles (GAC-FCA) is being forced to pay RMB 2 million Prior to this, they had applied for bankruptcy to the court

GAC-FCA must pay RMB 2 million after filing for bankruptcy

【PhoneAuto News】Recently, PhoneAuto noticed that according to information displayed on the Qi Cha Cha App, Guangzhou Automobile Fiat Chrysler Automobile Co., Ltd. has added an executed person information, with an execution target of 2 million RMB, involving a financial loan contract dispute case, and the executing court is the Yue Lu District People’s Court in Changsha City. Currently, the total amount of the company’s executions exceeds 6.7 million RMB.

Guangzhou Automobile Fiat Chrysler Automobile Co., Ltd.

Also according to information displayed on the Qi Cha Cha App, Guangzhou Automobile Fiat Chrysler Automobile Co., Ltd. was established on March 9, 2010. The legal representative is Zhang Zongsheng, and the registered capital is 10 billion RMB. It is jointly owned by Guangzhou Automobile Group Co., Ltd., Stellantis N.V., Stellantis Asia Pacific Investment Co., Ltd., and Fiat Chrysler Automobiles N.V. Guangzhou Automobile Group Co., Ltd. holds a 50% stake, which is the largest shareholder, while the other three companies hold stakes of 28%, 16%, and 6% respectively.

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Related Information

Previously, in November 2022, Guangzhou Automobile Group announced that Guangzhou Automobile Fiat Chrysler Automobile Co., Ltd. had applied for bankruptcy to the court due to its inability to pay its debts according to current laws and regulations. This was a resolution approved by the three shareholders of Guangzhou Automobile Fiat Chrysler Automobile Co., Ltd., Guangzhou Automobile Group, and Stellantis. The announcement stated that in recent years, due to factors such as a decline in product competitiveness, Guangzhou Automobile Fiat Chrysler Automobile Co., Ltd.’s production and operation gradually fell into difficulties. Although the shareholders took active measures and increased capital several times, the operating effect did not improve, and its production and operation are currently in a state of complete stagnation. At the end of 2022, the Changsha Intermediate People’s Court believed that Guangzhou Automobile Fiat Chrysler Automobile Co., Ltd.’s actual assets could not clear all its debts, and that bankruptcy liquidation was in accordance with the law and was officially accepted.

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