Core Viewpoint - GAC Fiat Chrysler (广汽菲克) has been declared bankrupt by the Changsha Intermediate People's Court due to its inability to repay debts and lack of assets to cover liabilities, marking the end of its operations as a joint venture that once thrived with the Jeep brand [3][5]. Company Overview - GAC Fiat Chrysler was established in March 2010 as a 50:50 joint venture between GAC Group and Stellantis, with a total investment of approximately 17 billion yuan [3]. - The company gained popularity with the launch of its first localized Jeep model, the Cherokee, in 2015, and saw a significant sales increase of 260% in 2016, reaching 179,900 units [3][5]. - Sales peaked in 2017 at 222,000 units but began to decline sharply after 2018 due to quality issues, specifically the "burning oil" problem highlighted during a consumer rights program [5]. Financial Performance - Sales figures for GAC Fiat Chrysler from 2018 to 2021 showed a drastic decline: 125,200 units in 2018, 73,900 units in 2019, 40,500 units in 2020, and 20,100 units in 2021 [5]. - The company faced ongoing financial losses, leading to the decision by GAC Group and Stellantis to terminate the joint venture in July 2022 after failing to resume normal operations since February of that year [5]. Shareholder Dynamics - Tensions arose between the Chinese and foreign stakeholders, particularly when Stellantis announced plans to increase its stake in GAC Fiat Chrysler from 50% to 75% in January 2022, which GAC Group denied [5]. - In October 2022, Stellantis confirmed that the shareholders had approved a resolution for GAC Fiat Chrysler to file for bankruptcy due to continued losses [5].