Chrysler ends alliance with Mitsubishi and Hyundai

September 10, 2009 11:16:19 AM PDT
Chrysler Group LLC says it ended an engine building alliance with Mitsubishi Motors Corp. and Hyundai Motor Co. and is in talks to replace it with Fiat Group SpA, bringing the Italian automaker's technology to engine manufacturing in the U.S. Fiat has 20 percent ownership stake in Chrysler.

The Global Engine Manufacturing Alliance (GEMA) between Mitsubishi, Hyundai and Chrysler was disbanded last month, with Mitsubishi and Hyundai selling their stakes to Auburn Hills, Mich.-based Chrysler for an undisclosed amount.

Chrysler says the move will have no effect on workers making the codeveloped engines at a plant in Dundee, Mich. The plant will continue to produce engines for the Dodge Caliber, Avenger, Jeep Compass and Patriot and Chrysler Sebring.

More money-related links: