GAC FCA's Bankruptcy Liquidation Changsha Factory Auction and More

TapTechNews August 7th news, the bankruptcy liquidation case of GAC Fiat Chrysler Automobiles Co., Ltd. (referred to as GAC FCA) is underway.

The core assets of GAC FCA - the Changsha factory and its affiliated buildings, machinery and equipment, etc. ended the second auction yesterday, with a starting price of approximately $2.25 billion (about 15.32 billion yuan), which was reduced by $560 million (about 3.83 billion yuan) compared to the first auction price.

The Jingdong Auction platform shows that this auction was aborted due to no bids.

According to the introduction, the factory is located at No. 18 Yingxia Road, Changsha County, Changsha City, Hunan Province, with a land use right area of 7,001,128 square feet, and there are 19 buildings with real estate certificates.

TapTechNews noted that this auction not only includes land and building factories, but also covers various machinery and equipment of GAC FCA.

The bankruptcy liquidation path of GAC FCA started in October 2022. At that time, the company applied for bankruptcy to the court due to the actual assets being unable to pay off all debts and having basically stopped operating, and officially entered the bankruptcy process in November of the same year. The GAC FCA Guangzhou factory was later taken over by GAC Aion and transformed into a pure electric vehicle production base.

On June 20th this year, GAC FCA released an asset disposal announcement, marking the full start of the liquidation work.