Hmm... I haven't heard anything about this either...

~Amanda

 

i thought they sold hyundai a bit ago, i was looking in daimlerchrysler.com in the products page and it didn't have hyundai now

 

I guess you guys aren't familiar w/ DCX's business moves in the past 5 years. To start off, Mitsubishi and Hyundai are global partners with DCX along with Freightliner, Thomas, Fuso... Before last year, DCX owned about 39% of Mitsubishi and about 10% of Hyundai. After Mitsubishi had the big scandal and defect cover up issues, DCX lost a lot of money as MMC (mitsubishi's) value drop like a brick. DCX as a partner, got mad b/c the purchase of MMC was still pretty new. DCX sued and got the money back from MMC in cash and additional shares of Fuso Heavy Truck. And when MMC had the big year of flop sales and needed restructuring funding, DCX decided not to invest and DCX eventually sold the shares of MMC back to MMC. As for Hyundai, DCX bought the 10% ownership as an investment. DCX worked closely with Hyundai on a lot of projects including the World Engine Project and saw a lot of potential in Hyundai. Last year, with some business decision disagreement between Hyundai and DCX, DCX decided not to have any ownership of Hyundai and sold the shares back to Hyundai and banks with a big profit.

Today, MMC and Hyundai are still global partners as in the past in projects like the World Engine. By the way, the World Engine project is a joint venture among the three companies. DCX does not sell engines to the other two. The engines were designs and developed among the three companies. Also, other examples would be the new '06 MMC Raider which is a Dodge Dakota, or the new Dodge Caliber soon to come out which is built on the MMC Lancer platform. And yes, even selling Hyundai's in Mexico w/ a Dodge badge.

Hope this straightens out the confusion. By the way, I work and live in the auto capital.....

 

DCX owns almost all of Fuso and Freightliner...

 

Does that mean all the WORLD MOTOR PLANTS slated for 05 and 06 are going too??? There was s'posed to be a lot of jobs created by this...DIAMLER SIDE???