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Chrysler sold its equity stake to Mitsubishi in 1993, and Diamond-Star Motors was renamed Mitsubishi Motors Manufacturing America (MMMA) on July 1, 1995. [3] Despite the departure, the two companies have maintained various co-operative manufacturing agreements since and considered all vehicle produced until 1995 [ 9 ] as Diamond Star Motors.
Mitsubishi's difficulties contributed to a sharp fall in the DaimlerChrysler group's profits, and following the recall of a further 1.5 million cars in February 2001, including almost a million in the U.S., [20] the German parent moved quickly to restructure; approximately 10,000 Mitsubishi employees would be axed and one of its four assembly ...
The Mitsubishi PS platform, also known as "Project America", is a mid-size, front-wheel drive platform developed by Mitsubishi Motors North America.All vehicles built at the Diamond-Star Motors facility in Normal, Illinois are underpinned by the platform, as is the Australian built Mitsubishi 380, which is loosely derived from the PS-based ninth generation of the Mitsubishi Galant.
During his tenure, Daimler-Benz made the 80% acquisition of the Chrysler Corporation to become DaimlerChrysler. Schrempp called the merger a "match made in heaven". In addition to the acquisition of Chrysler, Schrempp pursued the acquisition of Mitsubishi Motors as part of his 'Three Pillars' strategy to expand the reach of Daimler-Benz into the major markets of the United States and Asia.
Daimler's joint venture with BYD [87] has resulted in the creation of the new brand Denza. In 2016, Daimler subsidiary ACCUMOTIVE announced their stationary batteries, to store up to 20 kWh of solar power for later use. [88] Daimler plans to invest €1.5 billion in battery technology, [89] [90] and unveiled a factory in Kamenz in May 2017. [91]
Mitsubishi's first GS platform car was the 2005 Mitsubishi Outlander crossover SUV. PM/MK vehicles from Chrysler are assembled at Belvidere Assembly in Belvidere, Illinois ( Dodge Caliber and Jeep Compass ) and JS Vehicles were produced at the Sterling Heights Assembly ( Chrysler 200 and Dodge Avenger ).