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DaimlerChrysler Acquires 43 Percent of Mitsubishi's Truck Unit

September 20, 2002

DaimlerChrysler announced Sept. 20 that it will acquire a 43 percent stake in Mitsubishi Motors’ truck division. The company also said it will exercise its option to purchase 50 percent of Hyundai Motors’ truck unit.

The moves come as part of the company’s plan to expand its operations in Asia, which accounts for 43 percent of the world market for commercial vehicles. DaimlerChrysler expects Asia to account for over half of the world market in the next decade.

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