DaimlerChrysler to maintain stake in Mitsubishi

Car manufacturer DaimlerChrysler will keep its stake in Mitsubishi Motors despite its decision to stop pumping new money into its troubled Japanese partner, chief executive Juergen Schrempp said today.

The decision to cut off Mitsubishi last week “has not altered our strategic goal of establishing firmly our presence in Asia,” Stuttgart based Schrempp said in a letter to staff

The US-German company will continue to implement joint projects with Mitsubishi and we will, of course, continue to maintain our holding in Mitsubishi Motors,” he said.