Chrysler wants to keep Daimler on board
( dpa )- Chrysler, the third-largest US automaker, wants to keep Germany's Daimler Corp on board in the coming years, Chrysler chief Robert Nardelli said Sunday at the Detroit auto show.
Daimler last summer sold its controlling interest in Chrysler to the US private finance firm Cerberus but continues to hold a 20-per- cent interest in the struggling auto manufacturer.
Chrysler President Tom LaSorda said the two companies still have a lot in common, and that the partnership would be continued. Daimler head Dieter Zetsche continues to give strong support to Chrysler, LaSorda noted.
Nardelli , who caused an uproar in the business world with his 210- million-dollar severance package from Home Depot a year ago after leaving the retailer in financial straits, said that Chrysler is on the way to better days and was driving at full speed out of the crisis.
He said Chrysler had already beaten the targets of new owner Cerberus but did not project figures for the coming year. Nardelli did not mention when Chrysler expected to regain profitability.
As a privately held corporation, Chrysler is no longer obligated to publicize its earnings and revenues. Media reports have mentioned that Nardelli expects losses of at least 1.6 billion dollars for 2007.