GAC Fiat Chrysler explained

GAC Fiat Chrysler Automobiles Co., Ltd.
Native Name:广汽菲亚特克莱斯勒汽车有限公司
Former Name:GAC Fiat Automobiles Co., Ltd.
Type:Joint venture
Fate:Bankrupt
Location City:Changsha
Location Country:China
Area Served:China
Key People:Zheng Xiancong (president)[1]
Jack Cheng (managing director)[2]
Industry:Automotive
Products:Automobiles
Owners:GAC Group (50%)
Homepage: - (archived)

GAC Fiat Chrysler Automobiles Co., Ltd. was an automobile manufacturing company headquartered in Changsha, China. It was a 50:50 joint-venture between the GAC Group and Stellantis. The company was founded on 9 March 2010.[3] Fiat agreed to invest an initial US$559 million in the venture.[4]

History

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.[4] 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.[5] GAC Fiat Automobiles Co., Ltd. was incorporated on 9 March 2010.[3]

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.[6]

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.[7] [8]

In January 2015, GAC Fiat was renamed as GAC Fiat Chrysler.[9]

In January 2022, Stellantis announced a plan to take a 75% majority stake of the joint venture.[10] GAC quickly responded that no formal agreement to change the joint venture had been signed.[11] 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.[12] Later that year, the joint venture filed for bankruptcy.[13] [14]

Operations

GAC Fiat had facilities in Changsha, with an annual production capacity of 140,000 cars and 220,000 engines, covering around 700,000 m2.[5] Vehicle production began in June 2012, with the Fiat Viaggio four-door sedan.[3] [15] [16] Later, the company started to manufacture the Ottimo (the hatchback version of the Viaggio).[17] In October 2013, GAC Fiat announced the construction of a second manufacturing plant in Guangzhou.[18] In November 2014, Fiat Chrysler and GAC expanded their partnership to produce Jeep vehicles.[17] The Changsha plant began assembling the Jeep Cherokee in October 2015 and the Guangzhou plant began assembling the Jeep Renegade in April 2016.[19] In late 2016, the Guangzhou plant began assembling the Jeep Compass. In 2018, the Changsha plant began manufacturing the Jeep Grand Commander.[20]

Sales figures

By year

YearFiat[21] Jeep[22] Combined
20120
20130
20140
2015
2016
2017
2018
2019
20200
20210
Total776,753

By model

Notes and References

  1. News: GAC-Fiat: No plan to launch Chrysler brand any time soon. 13 April 2012. China Automotive Review. 10 August 2011.
  2. News: New venture formed for Fiat's second act. 13 April 2012. China Daily. 27 September 2010.
  3. Web site: Company Profile. 13 April 2012. GAC Fiat Automobiles Co., Ltd.. dead. https://web.archive.org/web/20120322210940/http://www.gacfiatauto.com/website/recof/cominfo_jsp_catid_324_325_333.html. 22 March 2012.
  4. News: Fiat Focuses on China. https://web.archive.org/web/20090710103923/http://www.businessweek.com/globalbiz/content/jul2009/gb2009077_696269.htm. dead. July 10, 2009. 13 April 2012. Bloomberg Businessweek. 7 July 2009.
  5. News: GAC-Fiat ceremony heralds joint venture. 13 April 2012. China Daily. 30 November 2009.
  6. News: Fiat opens new Chinese plant to produce Viaggio. 2 July 2012. Straits Times. 28 June 2012.
  7. News: Fiat-Chrysler, Guangzhou ink Jeep deal . https://archive.today/20130215211655/http://www.detroitnews.com/article/20130116/AUTO04/301160335/1148/auto01/Fiat-Chrysler-Guangzhou-ink-Jeep-deal . dead . 15 February 2013 . 27 January 2013 . The Detroit News . 16 January 2013 .
  8. News: Fiat, Chrysler to produce Jeep in China: paper. 27 January 2013. Reuters. 14 January 2013. 23 April 2019. https://web.archive.org/web/20190423161434/https://in.reuters.com/article/us-fiat-chrysler-idINBRE90C06F20130113. dead.
  9. To create a brighter future with soaring aspirations, GAC Group participated in the 16th Shanghai International Automobile Industry Exhibition. 21 April 2015 . 22 January 2019. GAC . automotiveworld.com.
  10. Web site: Stellantis Plans to Take Majority Share in Joint Venture with GAC in China Stellantis . 2022-07-18 . www.stellantis.com.
  11. Web site: Doll . Scooter . 2022-08-02 . GAC calls out Stellantis CEO for 'lack of respect' toward Chinese customers amid failed Jeep joint venture . 2022-12-25 . Electrek . en-US.
  12. Web site: Stellantis Implements Asset-light Approach to Grow Jeep® Brand in China and Negotiates Termination of Local Joint Venture with GAC Group . 2022-07-18 . www.media.stellantis.com . en.
  13. News: 2022-10-31 . Stellantis Jeep joint venture in China to file for bankruptcy . Reuters . 2023-04-24.
  14. News: 2022-12-01 . zh:负债81亿元，广汽菲克破产申请获法院受理 . With a debt of 8.1 billion yuan, the bankruptcy application of GAC FCA was accepted by the court . https://www.thepaper.cn/newsDetail_forward_20977329 . 2023-04-24 . zh-CN . The Paper .
  15. News: Fiat unveils new Viaggio model to be made and sold in China. 13 April 2012. Reuters. 13 April 2012.
  16. News: GAC Fiat Chrysler. 3 July 2015. Chinaautoweb.com.
  17. News: Fiat Chrysler deepens China partnership to help Jeep. 29 November 2014. 4 July 2015. Automotive News Europe . Crain Communications.
  18. News: Fiat's China JV to build second plant to produce SUVs, EVs, report says. 29 October 2013. 4 July 2015. Automotive News Europe . Crain Communications.
  19. Web site: First Chinese-Built Jeep Renegade Rolls Off Production Line in Guangzhou. 20 April 2016. 22 January 2019. The Wheels Network.
  20. Web site: FCA, GAC launch Jeep Commander output in Changsha. 10 April 2018. 22 January 2019. Automotive News China.
  21. Web site: Fiat China sales figures . Car Sales Base. 26 February 2015 .
  22. Web site: Jeep China sales figures . Car Sales Base. 12 December 2015 .

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "GAC Fiat Chrysler".

Except where otherwise indicated, Everything.Explained.Today is © Copyright 2009-2024, A B Cryer, All Rights Reserved. Cookie policy.