Daimler approves small car deal with China's Chery

Newswire

DETROIT, Feb 27 (Reuters) - The board of DaimlerChrysler AG on Tuesday said it has approved an alliance between its Chrysler Group unit and China's Chery Motor Co. aimed at the growing market for smaller cars. Under the deal, which will not include an equity investment, Chery will build vehicles under Chrysler's brand names for sale in the United States and Europe, DaimlerChrysler said in a statement. Chrysler reached its deal with Chery at the end of December. The deal is still ...

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