March 1, 2005

DaimlerChrysler to form Taiwan venture

Taipei, Taiwan – Taiwan’s China Motor Corporation and a unit of DaimlerChrysler AG will form a marketing and sales joint venture in Taiwan, the companies said Tuesday.

Ownership of the venture, to be called Chrysler Group Sales Taiwan Ltd., will be 51 per cent DaimlerChrysler Taiwan Ltd. and 49 per cent China Motor. That company is Taiwan’s second-largest automaker.

The venture will be established in the fourth quarter of 2005 to sell Chrysler- and Jeep-branded cars in Taiwan, starting with Chrysler Town & Country minivans in April 2006.

DaimlerChrysler Taiwan, which is owned 51 per cent by DaimlerChrysler AG and 49 per cent by Taiwan’s Capital Motors Inc., currently distributes cars under the Mercedes-Benz, Maybach and Smart brands in Taiwan and will continue to do so.

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