FRANKFURT, Germany (Aug. 1, 2000) — DaimlerChrysler AG finalized its agreement to take a 34% stake in Mitsubishi Motors Corp., giving the automaker a stronger presence in Asia.
The deal, valued at four billion marks ($1.91 billion US), makes DaimlerChrysler the world’s third-largest automaker, behind General Motors Corp. and Ford Motor Co. DaimlerChysler is reportedly near an agreement to take a 10% stake with South Korean automaker Hyundai.
The agreement with Mitsubishi does not include commercial truck operations, of which Volvo AB owns roughly 20%. Volvo Trucks North America distributes Mitsubishi trucks in Canada.
Have your say
This is a moderated forum. Comments will no longer be published unless they are accompanied by a first and last name and a verifiable email address. (Today's Trucking will not publish or share the email address.) Profane language and content deemed to be libelous, racist, or threatening in nature will not be published under any circumstances.