The starting price was raised to 1.532 billion yuan, and the second auction of GAC FCA’s Changsha plant failed again

According to news on August 7, the bankruptcy liquidation case of GAC Fiat Chrysler Automobile Co., Ltd. ("GAC FCA") is in full swing. Yesterday, its core asset, the Changsha factory located at No. 18 Yingxia Road, Changsha County, Changsha, Hunan Province, and its ancillary buildings, machinery and equipment, etc., ended its second auction. Although the starting price has been significantly reduced from the first nearly 1.915 billion yuan to about 1.532 billion yuan, a decrease of 383 million yuan, unfortunately, according to the JD.com auction platform, the auction still failed because no one bid.

1. The factory has a land use area of ​​700,112.8 square meters, including a total of 19 buildings with real estate certificates.

2. The subject of this auction is not limited to land and factories, but also covers various types of machinery and equipment owned by GAC FCA. It is a comprehensive asset sale.
3. GAC FCA’s bankruptcy liquidation process was launched in October 2022. The company filed a bankruptcy application with the court because its actual assets were insufficient to pay off all debts and its operations had basically stagnated.
4. In November of the same year, the company officially entered bankruptcy proceedings. During this process, GAC FCA's Guangzhou factory has been taken over by GAC Aian and successfully transformed into a production base focusing on pure electric vehicles.
5. On June 20 this year, GAC FCA officially issued an asset disposal announcement, which marked that its liquidation work has been fully launched.
6. Despite the many difficulties faced, GAC FCA's asset disposal work is still progressing in an orderly manner in order to satisfy the rights and interests of creditors to the greatest extent. -->

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