DaimlerChrysler
DaimlerChrysler AG headquartered in
Stuttgart, Baden-Württemberg (
Germany) and
Auburn Hills, Michigan (
USA), is a prominent
automobile and
truck manufacturer and financial services provider (through DaimlerChrysler Financial Services). The company also owns a major stake in aerospace group
EADS.
DaimlerChrysler was formed in 1998 by the
merger of
Daimler-Benz (Germany) and the
Chrysler Corporation (USA). The transaction was announced on
May 7, and took place on
November 12. It was alleged in 2003 that it was not a merger but in fact a buyout.
The company produces cars and trucks under the
brands
Chrysler,
Dodge,
Jeep,
Mercedes-Benz,
smart, and
Maybach, among others. The Chrysler Group (Chrysler, Jeep and Dodge) also provides its customers with parts and accessories marketed under the Mopar brand name.
In 2002, the merged company appeared to run two independent product lines, with few signs of corporate integration. In 2003, however, it was alleged by the
Detroit News that the "merger of equals" was, in fact, a takeover. The allegation came forth as new products such as the
Chrysler Crossfire (using extensive Mercedes parts) and the
Dodge Sprinter/
Freightliner Sprinter (a rebadged
Mercedes-Benz Sprinter van) came to market. Cooperation between the Mercedes Car Group and the Chrysler Group is expected to become markedly closer under CEO
Dieter Zetsche.
The $36 billion merger became the focal point of several
lawsuits, including one filed by
billionaire investor Kirk Kerkorian, and also a book (
Taken for a Ride: How Daimler-Benz Drove Off With Chrysler, (2000) by Bill Vlasic and Bradley A. Stertz). One
class action lawsuit was settled in August 2003 for $300 million. On
April 7,
2005, U.S. District Judge Joseph Farnan Jr., a
University of Toledo graduate, presided over a bench trial in
Wilmington,
Delaware, and ruled in favor of DaimlerChrysler, rejecting Kerkorian's allegations.
DaimlerChrysler also has a software development and service center in
Bangalore,
India, under the name DCRTI (DaimlerChrysler Research and Technology India Pvt Ltd).
Dieter Zetsche, former President and CEO of the Chrysler Group and the Mercedes Car Group, became the chairman of DaimlerChrysler on January 1, 2006.
Chairman
Jürgen E. Schrempp resigned from his position at the end of 2005 as head of the world's fifth largest auto manufacturer. In an agreement with the board of directors and Schrempp, he terminated his employment with the company early (his contract ran through 2008). Schrempp has been blamed for the fall of the company's share price since Daimler-Benz's merger with Chrysler Corporation in 1998 of which he was the architect.
Current members of the supervisory board of DaimlerChrysler are:
Heinrich Flegel,
Nate Gooden,
Earl Graves,
Thomas Klebe,
Erich Klemm,
Hilmar Kopper,
Arnaud Lagardère,
Jürgen Langer,
Robert Lanigan,
Helmut Lense,
Peter Magowan,
William Owens,
Gerd Rheude,
Udo Richter,
Wolf Röder,
Manfred Schneider,
Stefan Schwaab,
Bernhard Walter,
Lynton Wilson, and
Mark Wössner.
DaimlerChrysler sells automobiles under a number of
marques worldwide:
* Mercedes Car Group
**
Maybach**
Mercedes-Benz**
smart**
Mercedes-AMG**
Global Electric Motorcars (GEM)
* Chrysler Group
**
Chrysler**
Dodge**
Jeep**
Eagle (discontinued in 1998)
**
Plymouth (discontinued in 2001)
* Commercial Vehicle Brands
**
Freightliner***
Thomas Built Buses***
Sterling Trucks***
Western Star**
Mercedes-Benz**
Mitsubishi Fuso**
Dodge Trucks**
Orion Bus Industries**
Setra* Engine Brands
**
Detroit Diesel**
Mopar**
MTU Friedrichshafen (sold to
EQT in 2006)
DaimlerChrysler once held a large stake in the
Japanese car company
Mitsubishi Motors as well as the car operations of
Korean manufacturer
Hyundai. Its stake in Mitsubishi was as high as 37%, but because it did not participate in a new capital increase in April 2004, was reduced to 22%. The company sold the last of its Mitsubishi stock to
Goldman Sachs in November 2005. DaimlerChrysler sold its
MTU Friedrichshafen and
Detroit Diesel off-road business to
EQT in 2006.
DaimlerChrysler currently holds interests in the following companies:
*30.2% EADS (European Aeronautic Defence and Space Company), a parent company of
Airbus (as of March 2006) — DaimlerChrysler announced in April 2006 that it intends to sell 7.5% of EADS for "approximately €2.0 billion" [
1]
*85.0%
Mitsubishi Fuso Truck and Bus Corporation of Japan.
*
Freightliner, LLCDaimlerChrysler sold its holdings in the following:
*10.5%
Hyundai Motor Company â€" Bought in 2000 and 2001 for US$572 million. Sold in August 2004 for US$900 million
*37.1%
Mitsubishi Motors of
Japan (disposal of stake in mmC concluded on
November 18,
2005)
DaimlerChrysler was named one of the 100 Best Companies for Working Mothers in 2004 by Working Mothers magazine.
*
DaimlerChrysler Canada*
Global Engine Manufacturing Alliance *
EPA 2004 fuel economy report (DaimlerChrysler)*
Daimler Motoren GesellschaftDaimlerChrysler Corp. v. Cuno, 547 U.S. ___ (2006), a
U.S. Supreme Court case involving tax incentives granted to DaimlerChrysler to expand its
Toledo, Ohio facilities
*
Official DaimlerChrysler site*
Official Chrysler Group site*
DaimlerChrysler Financial Services*
Taken for a Ride (BBC book excerpt)
*
The largest Smart Car Club Online- SMARTZ*
DaimlerChrysler sued for $9bn (BBC)
*
DaimlerChrysler settles investor lawsuit (Car & Driver)
*
Discussion forum for DaimlerChrysler LX Platform (Charger, Magnum, 300)
