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Daimler agrees to unload remaining Chrysler stake
Mon, 27 Apr 2009Daimler 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.
Peugeot SR1 concept (2010): a new design direction
Fri, 08 Jan 2010By Tim Pollard First Official Pictures 08 January 2010 15:30 Peugeot is signalling a fresh design direction with this brave new SR1 concept car. And if it doesn't look like a Peugeot, that's deliberate. It's all change at Peugeot, tacit admission that its design has erred in recent years.
Renault-Nissan and Mercedes get very cosy
Wed, 07 Apr 2010The Mercedes Twingo? Almost, but not quite In yet another – highly expected – sign that the future for car makers is more and more co-operation, Renault-Nissan and Daimler (Mercedes-Benz) have today announced a wide-ranging alliance which will see much of the output of each company utilised by the other. Top of the list for starters is the joint development of the platform for the next SmartForTwo which will be shared by the next generation Twingo.