Fur flies between Cerberus, Daimler

Fur flies between Cerberus, Daimler

A day after Daimler claimed that Cerberus was making “exaggerated demands” for the remaining 19.9% of Chrysler, Cerberus accused Daimler AG of “intentionally and materially” misleading Cerberus during the 2007 buyout; and claimed that Daimler broke its contractual obligations, misrepresenting changes in underwriting for financing and leases.

Cerberus issued a statement alleging that Daimler has “refused to recognize the gravity of the claims relating to its deliberate conduct that resulted in the impairment of Chrysler’s business.”

Read the full story: Fur flies between Cerberus, Daimler  »


Two Nissans to be produced for Chrysler

Two Nissans to be produced for Chrysler

According to a scoop by Automotive News, Nissan will make a new compact car for Chrysler at its Aguascalientes, Mexico plant in early 2009. The car, based on the Versa (and already sold in Mexico as the Tiida), will be exported to Brazil.

Automotive News also noted that Nissan is due to produce a new small car “designed by Chrysler” (which does not necessarily mean engineered by Chrysler) in Japan for sale in North America,

Read the full story: Two Nissans to be produced for Chrysler  »


ZF to run and tool axle plant (updated)

ZF to run and tool axle plant (updated)

Chrysler announced that it would contract with ZF Friedrichschafen AG to run a new axle factory in Marysville, Michigan, set to open in 2010 with a capacity of 500,000 axles per year. Chrysler will retain ownership of the building, and 350 employees of the nearby Chrysler axle plant will work there; while ZF will buy the equipment needed to run the plant, easing Chrysler’s cash flow. The plan has been in the works for a considerable time;

Read the full story: ZF to run and tool axle plant (updated)  »


Getrag-Chrysler joint venture goes bankrupt

Getrag-Chrysler joint venture goes bankrupt

According to Automotive News, Getrag Transmission Manufacturing LLC has declared bankruptcy. Chrysler recently left the joint venture, claiming that Getrag had failed to obtain $300 million in financing without Chrysler loan guarantees. The factory which was to have made dual-clutch automated manual transmissions has been built, but tooling has not been set up. Getrag and Chrysler are suing each other, Chrysler for Getrag’s failure to obtain financing without loan guarantees,

Read the full story: Getrag-Chrysler joint venture goes bankrupt  »


Chrysler execs get millions while asking for US aid

Chrysler execs get millions while asking for US aid

DaimlerChrysler left Chrysler with a “retention incentive plan” which will give around $30 million in bonuses to 50 executives, according to the Detroit Free Press in a story affirmed by Chrysler’s Nancy Rae, executive vice president for human resources and communications. The story notes that Rae said the plan made sense at the time, because Daimler wanted to assure buyers that key executives would stay with the company after it was sold —

Read the full story: Chrysler execs get millions while asking for US aid  »


Jeep starts building Jeep J8s in Egypt

Chrysler LLC and the Arab American Vehicles Company today announced the launch of the Jeep J8 military, commercial, and agency utility vehicle.

Unveiled at the 2007 Defence Systems and Equipment International military trade show in London, the Jeep J8 is available as a two-door with an extended pickup bed, or as a four-door. It will be produced with numerous vehicle-body and seating configurations in either right- or left-hand drive.

Read the full story: Jeep starts building Jeep J8s in Egypt  »


Hall-of-Famer Ralph Gilles

Ralph Gilles, Chrysler’s Vice President—Design and lead exterior designer for the 300C, will be inducted into the Macomb Hall of Fame tonight for his design contributions to the Dodge Ram, which is built at the Warren Truck Assembly Plant in Macomb County.

The Macomb Hall of Fame recognizes individuals and organizations that have made outstanding contributions toward building Macomb County’s communities through charitable acts, good works,

Read the full story: Hall-of-Famer Ralph Gilles  »


Sterling to cease operations; Bullet dropped

Sterling to cease operations; Bullet dropped

Sterling, which was purchased by Daimler-Benz eleven years ago, is ceasing production of its L-line, A-line, and Acterra trucks as of March 27, 2009. New orders for these vehicles will be accepted through mid-January, 2009. However, orders for the Sterling Bullet, Sterling’s version of the Dodge Ram 4500 / 5500 chassis cab – built in Mexico by Chrysler – are no longer accepted. 

Sterling had negative earnings in eight out of the eleven years it was owned by Daimler.

Read the full story: Sterling to cease operations; Bullet dropped  »



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