DaimlerChrysler, Chery Close to Deal
SHANGHAI, Sept 29, 2006; Reuters reported that DaimlerChrysler AG is in detailed discussions with China's Chery Automobile to make cars for sale in the United States and other markets, and could finalise the deal soon, sources said on Friday.
"The two sides have explored various ways to make subcompact cars together and are now in advanced negotiations," one source familiar with the matter told Reuters.
Another source in the industry confirmed that DaimlerChrysler, the world's fifth-largest car maker, and Chery were in late-stage talks on a tie-up to sell cars to the U.S. market and elsewhere.
Both sources said a decision was expected to be made as early as within weeks.
The companies declined to comment.