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Daimler agrees to unload remaining Chrysler stake

Daimler AG announced today that it has reached an agreement to unload its remaining 19.9 percent stake in Chrysler LLC. "Daimler's remaining 19.9 percent shareholding in Chrysler will be redeemed, and Daimler will forgive repayment of the loans extended to Chrysler, which were already written off in the 2008 financial statement," Daimler said in a prepared statement. All told, Daimler will write off $700 million as a result of the deal, according to the statement.

Ford shuffles European production

Ford Motor Co. said Tuesday it is realigning its European production in a move that will add two models at the carmaker's Valencia, Spain, factory and an electric version of the Focus at the Saarlouis, Germany, plant. Ford also said the B-Max small wagon will be built in its Craiova, Romania, factory and the plant will add a second, as-yet-unnamed small-segment model.

Hackmobile Transit Connect wins Ford and MAKE magazine grand prize

Automakers have customization contests all the time, but that doesn’t always mean they’ll produce what the enthusiasts create. Splitting from tradition, Ford said it will build the Hackmobile Transit Connect Wagon that won its Ultimate Maker Vehicle Challenge. The Hackmobile was designed by Jon Atkinson, Becca Steffen, Riley Harrison and Michael Freiert, members of Twin Cities Maker.