- Jul 4, 2007
Daimler and Chrysler subsidiaries to remain close
These will be mostly related to the administration side of the car business, such as accounting and IT departments. Under the deal, the Daimler side of the business will loan out its services to the Chrysler team, however, both companies would operate under the same roof in the city of Melbourne.
The parent company of Mercedes-Benz, which is expected to be renamed Daimler AG, still owns a twenty percent stake in Chrysler to allow a sharing of technology between the two sides. Jenkins also said there'll be some ongoing projects in regards to engineering and component sharing, so there's still a vested interest on Mercedes' side to see Chrysler succeed.