MAKUHARI, Chiba Pref. -- After establishing a strong foothold in the European and North American markets, DaimlerChrysler AG is ready to increase its presence in Asia by taking advantage of its alliance with Japanese and South Korean partners, according to executives of the German-American auto giant.
"We are looking for a global approach," said Juergen Hubbert, a board member and head of DaimlerChrysler's Mercedes-Benz division, who is here to attend the 35th Tokyo Motor Show. "(The alliance) gives us a chance to have a balanced product program and income flow in all these regions. And with these cooperations and mergers, we are better positioned than anybody else."
In 2000, DaimlerChrysler formed a capital alliance in Asia with Mitsubishi Motors Corp. and now owns a 37.3 percent stake in the Japanese carmaker. It also holds a 10 percent stake in Hyundai Motor Co. of South Korea. U.S.-based Chrysler Corp. merged with German automaker Daimler-Benz AG in 1998 to create DaimlerChrysler.