DaimlerChrysler

From Wikicompany

DaimlerChrysler AG is a large German automobile and truck manufacturing company.

The company headquarters is in Stuttgart (Germany) and Auburn Hills, Michigan (US).

DaimlerChrysler employs about 383.000 people worlwide.

Affiliates

DaimlerChrysler currently holds interests in the following companies:

• EADS, a parent company of Airbus (30.2%), as of September 2002.
• Freightliner LLC
• Mitsubishi Motors Corporation (22%) of Japan (currently being sold).
• Mitsubishi Fuso Truck and Bus Corporation (43%) of Japan.
• Hyundai

DaimlerChrysler has sold its holdings in the following companies:

• Hyundai Motor Company (10.5%) - Bought in 2000 and 2001 for US$572,000,000. Sold in August 2004 for US$900,000,000

Brands

DaimlerChrysler sells automobiles under a number of brands:

• Mercedes Car Group
  • Global Electric Microcars (GEM), producers of the Smart city cars.
  • Maybach
  • Mercedes-Benz
  • smart
• Chrysler Group
  • Chrysler
  • Dodge
  • Jeep

• Commercial Vehicle Brands
  • Freightliner
  • Mercedes-Benz
  • Mitsubishi Fuso Truck and Bus Corporation
  • Setra
  • Sterling Trucks
  • Western Star

• Engine Brands
  • MTU Friedrichshafen
  • Detroit Diesel

History

DaimlerChrysler formed in 1998 by the buyout of the US based Chrysler Corporation by the German Daimler-Benz company.

The Chrysler management-buyout was announced as a "merger of equals" on May 7, but actually took place on November 12 and was not revealed to be a buyout until 2003.

As of 2002, the merged company appeared to run two independent product lines, with few signs of corporate integration.

In 2003 however, it was revealed by the Detroit News that the "merger of equals" was, in fact, a buyout. This news 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. Future cars are to share platforms across all of DaimlerChrysler's brands.

The $36 billion deception 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. The German auto giant is also the target of a lawsuit alleging that buyers were subjected to racial slurs and discrimination.

DaimlerChrysler was named one of the 100 Best Companies for Working Mothers in 2004 by Working Mothers. magazine.