• Apr 22, 2006

DaimlerChrysler intends to take full ownership of the joint-venture plant with Mitsubishi that produces engines for the Smart forfour and the Mitsubishi Colt.

As it stands, ownership of the eastern Germany facility is a 50-50 split between DCX and Mitsubishi, but it is likely that plans to stop forfour production have led to the Federal Cartel Office application to take over 100 percent. The two companies are still going back-and-forth over remunerations as a result of the Smart's demise, as the agreement had been scheduled to run until 2010.

[Sources: MarketWatch; Smart]



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