Hyundai and DaimlerChrysler announce deal

Hyundai and DaimlerChrysler announce deal

SEOUL, South Korea - Two officials of DaimlerChrysler AG (R and C) shake hands with Hyundai Motors Co. Chairman Chung Mong Koo on June 26 after the automakers announced an alliance. DaimlerChrysler, a German-U.S. automaker, will acquire a 10% equity stake in South Korea's largest car manufacturer, and the two will set up a 50-50 joint venture on the development, production and marketing of commercial vehicles.

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