Chrysler and Chery end cooperation

  • 10-Dec-2008 12:53 EST

Chrysler LLC and Chery Automobile Co. have mutually agreed to kill the idea of the chinese automaker producing small cars for its American counterpart, according to Chrysler. The two companies signed an agreement in 2007 to bring the idea to fruition, but "the discussions with Chery over the past year have allowed both of our companies to gain better insights into the opportunities and challenges of pursuing growth in the global auto market," Chrysler's Mike Manley, Executive Vice President-International Sales and Marketing, said in a statement. "The economic situation and market environments around the world have changed significantly since the agreement was signed."

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