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Article: DAIMLERCHRYSLER TAKES CONTROL OF MITSUBISHI MOTORS.
- Article from:
- European Report
- Article date:
- April 12, 2000
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By taking control of the Japanese heavyweight Mitsubishi Motors, the German-American motor manufacturer DaimlerChrysler has assumed the added bonus of being able to catch up on the Asian markets and develop its business in the small car segment, too. The agreement whereby DaimlerChrysler will buy a 34% stake in Mitsubishi Motors for Euro 2.1 billion - due to be signed in the next few months, only covers private passenger cars and light utility vehicles (such as pick-up vans), the two companies said in a joint communique. Heavy goods vehicles - in which Mitsubishi already has an alliance with the Swedish automotive group Volvo - and heavy utility vehicles are not included ...