DETROIT -- DaimlerChrysler AG's Chrysler division on Monday said it had entered a joint venture with China Motor Corporation to build and sell its Chrysler Town and Country minivans in Taiwan.
Chrysler President and Chief Executive Dieter Zetsche announced the deal with Taiwan-based China Motor at a news conference on the sidelines of the North American International Auto Show, calling it "good news and a positive step for DaimlerChrysler for its Asian strategy."
Asian business plans at DaimlerChrysler, the world's fifth largest automaker, were thrown into disarray last year after its partnership with financially-troubled Mitsubishi Motors Corp. came largely unraveled.
Zetsche said the minivans built by China Motor, at its facility in Yang Mei, Taiwan, were expected to go on sale next year. He did not elaborate on terms of the joint venture, but said Chrysler expected Town and Country "to take the leadership position in the market segment."
Minivans account for roughly 10 to 15 percent of vehicle sales in Taiwan, Zetsche said.
China Motor, which was established in 1969, has various subsidiaries and affiliates involved in automotive distribution, parts manufacturing and related services.