DaimlerChrysler gives notice of withdrawal from Hyundai

DaimlerChrysler and Hyundai Motor Company jointly announce the restructuring of their strategic alliance. Hyundai takes over the 50 % DaimlerChrysler share in the commercial vehicle engine company DaimlerChrysler Hyundai Truck Corporation, and talks on a commercial vehicle joint venture are terminated. All other projects are to be continued: these include the joint development and production of a four-cylinder petrol engine family (the so-called World Engine Project), joint procurement activities and the delivery of engines of the OM 906 medium-duty series to Hyundai. Against this backdrop, DaimlerChryslerAG announces it will sell its 10.5 % share in Hyundai Motor at some future time.