UPDATE 1-Daimler approves small car deal with China's Chery


(Adds background, details) DETROIT, Feb 27 (Reuters) - The board of DaimlerChrysler AG on Tuesday said it approved an alliance between its Chrysler Group unit and China's Chery Automobile Co. aimed at the growing market for smaller cars. Under the deal, which would not include an equity investment, Chery would 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 ...

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