DaimlerChrysler OKs deal with China's Chery
Under the agreement, vehicles built by Chery will be sold mostly in North America and western Europe as Chrysler brands.
The Chinese government must approve the deal. DaimlerChrysler said in a statement that it expects the final steps to be taken before the end of March.
The partnership would give Chrysler a small car, which it does not have. Chrysler showed a concept called the Dodge Hornet at the 2006 Geneva auto show.
Chrysler needs the small car to boost its growth outside North America. About 67 percent of vehicles sold outside North America are in the small-car segment, Chrysler said in its release.
Chrysler has said it could not profitably build a small car in North America.
You may e-mail Bradford Wernle at firstname.lastname@example.org
You can reach Bradford Wernle at email@example.com.