UPDATE 1-Latest Smart revamp to cost Daimler 1 bln euros

Newswire

(Adds quotes, background) FRANKFURT, March 25 (Reuters) - DaimlerChrysler plans to halt production of its four-door Smart car and focus solely on the loss-making minicar business's two-seat version, it said in a statement on Saturday. The move is subject to negotiations with Mitsubishi Motors Corp , which makes the ForFour model at a plant in the Netherlands, and approval by Daimler's supervisory board. The reorganisation would cost around 1 billion euros ($1.20 billion) and cut 300 ...

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