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DC, Hyundai arrange amicable divorce


DC, Hyundai arrange amicable divorce

While DaimlerChrysler AG will put its 10.5-percent stake in Hyundai Motor Co. up for sale at an undetermined time, the two companies will still work together on a variety of projects, both companies said on Wednesday. DC, as has been reported earlier this week, will dispense with its stake in the Korean carmaker, in return, Hyundai will purchase DaimlerChrysler's 50-percent stake in Daimler Hyundai

Truck Corporation, a commercial vehicle engine joint venture the companies own in

Korea. In the wake of the "realignment," as it was termed in a release, the companies will continue to collaborate on a project basis, including the development and manufacture of a new global four-cylinder engine (along with DC partner Mitsubishi), sales of Hyundais through DaimlerChrysler channels in Mexico, and some joint procurement. Earlier this month, DaimlerChrysler declined to invest billions of dollars into its failing Japanese partner Mitsubishi, casting DC's Asian strategy into disarray.

Schrempp: Asia Plan is Viable by Joseph Szczesny (5/10/2004)
Is DC's plan for the East viable - or are the deck chairs being shuffled?


NHTSA nearly mandates side-curtain airbags

New regulations proposed on Wednesday by the National Highway Traffic Safety Administration (NHTSA) mean that automakers will be all but required to equip new vehicles with side-curtain airbags by 2009. The agency will set new side-impact crash standards that have separate standards for head protection in addition to thorax and abdomen protection for more passengers in the vehicle. It's expected that most manufacturers will meet the new rules by adding curtain airbags to the increasingly hefty safety equipment mandated by federal rules. The agency estimates some 700 lives could be saved each year once the technology is implemented to meet the new rules. The proposed changes to existing Federal Motor Vehicle Safety Standard rule 214 could become law as soon as 2005.

Sierra Club, UAW United Against NHTSA by Joseph Szczesny (2/23/2004)
New fuel-economy proposal draws the ire of some unlikely allies.

Ernst & Young Daily Edition STD
Lotus replaces Johnson with English

Long-time Lotus Cars USA chief executive Arnie Johnson has been ousted after a 33-year career with the British sports car maker. Automotive News reports that Lotus Holdings CEO Duke Hale, a former Isuzu executive, made the change on the eve of a major sales push with the introduction of the new Elise sports car. The former head of Mazda's southeast region, 59-year-old John English, replaced Johnson on April 30. Lotus hopes to sell 2000 Elises a year in the U.S. and executives have voiced hope for sales of up to 10,000 cars a year by the end of the decade.

2005 Lotus Elise by Marty Padgett (4/26/2004)
It's all or nothing for the sprite-sized successor to the Esprit and Elan.

Infiniti plots Korean launch

Nissan plans to take its Infiniti luxury brand to South Korea starting in mid-2005, the automaker announced on Thursday. Five Infiniti models will make the trip over to Korea, including the G35 sedan and coupe, Q45 sedan, M35/M45 sedans, and later, the FX crossover vehicles. The company is planning to have two or three dealers in place before the mid-2005 launch. Until then, Korean customers can check www.infiniti.co.kr to sate their curiosity.

FROM THE SOURCE headlines from the latest press releases
PRNewswire

DaimlerChrysler Vans, LLC, the distributor of the Freightliner Sprinter - the official vehicle sponsor of the 2004 US Paralympic Team, and decorated Paralympic athlete Chris Waddell announce the launch of GO Forward, a national community outreach initiative bringing US Paralympic / gold medalist Chris Waddell to multiple communities and rehabilitation hospitals throughout the nation.

Lear Daily Edition

Name Symbol Last Change
Autobytel, Inc. ABTL 9.52 +0.14 (+1.49%)
Autoliv Inc. ALV 39.61 -0.05 (-0.13%)
AutoNation Inc. AN 15.59 -0.38 (-2.38%)
ArvinMeritor Inc. ARM 18.59 -0.02 (-0.11%)
American Axle & Mfr. Holdings Inc. AXL 35.70 -0.23 (-0.64%)
Ballard Power Systems Inc. BLDP 9.35 -0.03 (-0.32%)
BorgWarner Inc. BWA 79.49 -0.21 (-0.26%)
Collins & Aikman Corporation CKC 5.24 -0.17 (-3.14%)
Cummins Inc. CMI 54.40 -0.53 (-0.96%)
Dana Corporation DCN 18.62 -0.26 (-1.38%)
DaimlerChrysler AG (ADR) DCX 42.94 +0.44 (+1.04%)
Delphi Corporation DPH 10.03 -0.03 (-0.30%)
Dura Automotive Systems DRRA 10.41 -0.29 (-2.71%)
Eaton Corporation ETN 57.47 +0.32 (+0.56%)
Ford Motor Company F 14.49 +0.11 (+0.76%)
General Motors Corporation GM 44.48 +0.37 (+0.84%)
Gentex Corporation GNTX 36.48 -0.42 (-1.14%)
Goodyear Tire & Rubber GT 8.17 -0.05 (-0.61%)
Honda Motor Co. Ltd. (ADR) HMC 20.65 +0.64 (+3.20%)
Johnson Controls Inc. JCI 51.56 -0.84 (-1.60%)
Lear Corporation LEA 56.31 -0.20 (-0.35%)
Magna International Inc. MGA 75.62 -0.47 (-0.62%)
Motorola Inc. MOT 18.85 +0.15 (+0.80%)
Nissan Motor Co. Ltd. (ADR) NSANY 21.25 +0.08 (+0.38%)
Sonic Automotive Inc. SAH 21.84 -0.86 (-3.79%)
Sirius Satellite Radio SIRI 3.17 +0.02 (+0.60%)
Toyota Motor Corporation (ADR) TM 69.86 +1.49 (+2.18%)
TRW Automotive Holdings TRW 18.52 +0.02 (+0.11%)
Tower Automotive Inc. TWR 4.40 +0.10 (+2.33%)
United Auto Group Inc. UAG 27.55 -1.40 (-4.84%)
Visteon Corporation VC 9.97 -0.10 (-0.99%)
XM Satellite Radio Hold. XMSR 22.76 -0.64 (-2.74%)

 
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