Chrysler Plans Joint U.S. Plant with Mitsubishi & Hyundai

DaimlerChrysler’s Chrysler Group will operate a new U.S. engine plant under a joint venture with Mitsubishi Motors Corp. and Hyundai Motor Co., according to Chrysler Group President and CEO Dieter Zetsche.

Zetsche, speaking at the Los Angeles Auto Show, said the production facility’s location should be revealed some time in the first quarter of 2003. Zetsche said the facility will be co-managed by executives from all three companies, with Chrysler in the lead. The plant is expected to begin building engines in 2005.