The story
Fiat and GAC signed a joint venture agreement in Rome on 6 July 2009, in the presence of Chinese President Hu Jintao and Italian Prime Minister Silvio Berlusconi. Construction of GAC Fiat facilities in Changsha began on 26 November 2009, with a groundbreaking ceremony attended by the Italian ambassador to China, the provincial leaders of Hunan and Guangdong, and city leaders of Changsha and Guangzhou. GAC Fiat Automobiles Co., Ltd. was incorporated on 9 March 2010.
The Changsha assembly plant was officially opened on 28 June 2012, in a ceremony attended by Fiat chief executive Sergio Marchionne and representatives of Hunan and Guandong provinces.
In January 2013, it was announced that GAC Fiat would be also expanded to include Chrysler, and that, GAC Fiat would construct a new assembly plant in Guangzhou for the production of Jeep products.
In January 2015, GAC Fiat was renamed as GAC Fiat Chrysler.
In January 2022, Stellantis announced a plan to take a 75% majority stake of the joint venture. GAC quickly responded that no formal agreement to change the joint venture had been signed. In July, Stellantis announced that due to a lack of progress in its attempt to take a greater stake in the company, it was terminating the joint venture with GAC. Stellantis planned to shut down local production operations and move towards importing Jeep vehicles to the Chinese market. Later that year, the joint venture filed for bankruptcy.
From Wikipedia’s article on GAC Fiat Chrysler, shared under CC BY-SA 4.0.4
