GAC Group: GAC FCA bankruptcy is the normal work arrangement of the court and bankruptcy administrators to carry out the bankruptcy process according to law.

In response to the bankruptcy declaration of GAC Fiat Chrysler, GAC Group stated that the announcement is a normal work arrangement for the court and bankruptcy administrator to advance the bankruptcy proceedings in accordance with the law and regulations. GAC Group will continue to respect and support the work of the court and the bankruptcy administrator. Today, the administrator of GAC Fiat Chrysler announced that based on the liabilities, audit reports, asset assessment reports, etc. of GAC Fiat Chrysler, it is unable to repay the due debts, and the assets are insufficient to repay all debts. It also does not meet the conditions for restructuring or reconciliation, thus declaring the bankruptcy of GAC Fiat Chrysler.