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News of  December 27, 2001

DaimlerChrysler AG and Mitsubishi Motors Corporation to Build Engine Plant in Thuringia

• Construction to start in the spring of 2002, investment of around EUR 240 million

• Some 500 new jobs to be created at the engine plant 

• EU Commission approves approximately EUR 57 million in subsidies 

Stuttgart - DaimlerChrysler AG (Stuttgart) and Mitsubishi Motors Corporation (Tokyo) have announced they will build a joint engine plant for the production of gasoline engines for small cars under the Mitsubishi and smart brands. The plant will be located in Kölleda, in the German state of Thuringia, and represent an investment totalling EUR 244 million. Altogether, around 500 people will work at the plant in Kölleda, and more than 500 additional jobs will be created in the region. Construction will start in February 2002. Plans call for the plant to have production capacity of up to 300,000 engines annually over, on the 37,000 square meters of production space. The plant is scheduled to be completed in December 2003 and the first engines are expected to be ready for delivery in the spring of 2004. 

EU Commission approves financial subsidies from the German government 

The EU Commission in Brussels today announced its decision to approve subsidies from the Federal Republic of Germany and the state of Thuringia. These funds, which will help improve the regional economic infrastructure, will be used to build the plant. The German federal government and the state of Thuringia will provide a total of EUR 57 million in subsidies. Engines for small cars of Mitsubishi and smart brands DaimlerChrysler and Mitsubishi will produce engines in Kölleda through "MDC Power GmbH," a joint venture company in which each partner will have a 50-percent stake. The modern three- and four-cylinder state-of-the-art engines, which will be compatible with EU4 regulations, are intended for use in Mitsubishi and smart-brand vehicles, which are assembled at the NedCar plant in the Dutch town of Born. Some of the engines produced in Kölleda will be sent to the Mitsubishi Motors Corporation plant in Okazaki, Japan.

(Dec. 20, 2001)

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