SEOUL — Korea's No.1 automaker, Hyundai Motor Co. Ltd., and DaimlerChrysler AG are joining forces to develop and produce small passenger cars, commercial vehicles and parts. The official announcement of the anticipated alliance was made in Korea on June 26, shortly after officials from both companies signed a letter of intent here. The alliance deal calls for DC to pay US$428 million for a 10% stake in Hyundai Motor. DC affiliate Mitsubishi Motors Corp. already owns a 4.8% share in ...
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