Core Viewpoint - GAC Fiat Chrysler has officially applied for bankruptcy due to insolvency and lack of restructuring possibilities, marking the end of its 15-year presence in the market [1][10]. Company Overview - GAC Fiat Chrysler was established in 2010 with a total investment of approximately 17 billion yuan, equally funded by GAC Group and Fiat Group [4]. - The company initially had a promising start but faced significant challenges over the years, leading to a decline in sales and financial instability [3][7]. Product Performance - The introduction of the Jeep brand in 2015 was a turning point, with Jeep's sales peaking at over 220,000 units in 2017, significantly boosting GAC Fiat Chrysler's performance [6]. - However, Jeep's sales plummeted from 125,100 units in 2018 to just 20,100 units in 2021, highlighting the brand's struggles in the Chinese market [6][7]. Financial Decline - By 2020, GAC Fiat Chrysler's net assets fell to -331 million yuan, marking its first instance of insolvency [7]. - The company's total undisputed debt was approximately 4.044 billion yuan, while its liquidation assets were only valued at 1.915 billion yuan at the time of bankruptcy [12]. Shareholder Conflicts - Tensions between GAC Group and Stellantis escalated, with Stellantis attempting to increase its stake in the joint venture, leading to public disputes and a lack of cooperation [8][9]. - The internal turmoil was exacerbated by frequent changes in management, which failed to stabilize the company [9]. Market Exit - Following the bankruptcy application, GAC Aion quickly took over GAC Fiat Chrysler's Guangzhou factory for electric vehicle production, while the Changsha factory faced multiple failed auction attempts [12]. - The official court ruling confirmed GAC Fiat Chrysler's insolvency and lack of restructuring options, leading to its exit from the automotive market [12].