SEOUL -- DaimlerChrysler will continue joint projects with Hyundai despite selling its 10.5 percent stake in South Korea's leading automaker.
D/C, the world's fifth-biggest automaker, said it raised more than $900 million (about E728 million) last week by selling the stake.
D/C and Hyundai are cooperating on parts procurement and the two automakers have a joint venture with Mitsubishi to build a new four-cylinder world engine.
Chrysler will sell Hyundai's Atos and Verna small cars and Starex minivan in Mexico under the Dodge brand.
"All the projects will go on," said DaimlerChrysler spokesman Toni Melfi.
The relationship between D/C and Hyundai cooled as the two automakers emerged as rivals rather than partners in emerging markets.
D/C refused to share commercial vehicle engine technology with Hyundai while Hyundai declined D/C's request to share Hyundai's small-car platform, including the Korean automaker's front-wheel-drive technology for small cars.
D/C's plans to build Mercedes cars in China with Beijing Automotive angered Hyundai, which claimed it had an exclusive deal with the Chinese automaker.
Although Hyundai shares plunged after the sale, analysts say the severed alliance with D/C will have little impact on Hyundai's daily operations since the companies will continue their joint projects.
D/C paid about $572 million for its Hyundai stake. It bought 10 percent in June 2000, then raised the stake to 10.5 percent in 2001.