US automaker Chrysler reaffirmed its commitment to Taiwan in the wake of changes after its sale to a private equity company.
DaimlerChrysler AG completed last Friday the transfer of an 80.1 percent stake of Chrysler to New York-based buyout firm Cerberus, ending a nine-year partnership and restoring Chrysler as a standalone US automaker.
Changes have also taken place in Taiwan following the sale. All shares previously owned by DaimlerChrysler Taiwan Ltd in Chrysler Group Taiwan Sales Ltd were transferred to Chrysler Group, a statement released yesterday read.
Chrysler Taiwan started operations in January last year as a joint venture with DaimlerChrysler Taiwan holding a 51 percent stake and China Motor Corp (
The 51 percent stake was formally transferred last Friday to Chrysler Group, which will manage its brands, including Chrysler, Jeep and Town & Country, in Taiwan.
"Sales of American cars are losing momentum in Taiwan due to a stronger US dollar and intense competition from Japanese brands that offer more affordable prices," a company official said.
But Chrysler Group said it was not giving up on Taiwan.
Combined sales of Chrysler and Jeep hit about 700 units a year here, while Town & Country minivans, which started local assembly last year, saw sales of about 30 units a month.
"Taiwan will continue to be an important market of Chrysler Group," William Russo, chairman of Chrysler Taiwan, said in a statement.
Chrysler Taiwan will continue its sales and operations and uphold service commitments to Chrysler car owners, he said.
"Moreover, with the direct relationship and strong backing of Chrysler Group, we will offer upgraded products and services to Taiwan," he said.
Meanwhile, DaimlerChrysler Taiwan -- formed in February 2002 after Germany's Daimler merged with the US' Chrysler in 1998 -- will be renamed Daimler Taiwan in the near term to oversee its Benz, Smart and Maybach sales here, a company official said.
Zhang Yazhou was sitting in the passenger seat of her Tesla Model 3 when she said she heard her father’s panicked voice: The brakes do not work. Approaching a red light, her father swerved around two cars before plowing into a sport utility vehicle and a sedan, and crashing into a large concrete barrier. Stunned, Zhang gazed at the deflating airbag in front of her. She could never have imagined what was to come: Tesla Inc sued her for defamation for complaining publicly about the vehicles brakes — and won. A Chinese court ordered Zhang to pay more than US$23,000 in
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday held its first board of directors meeting in the US, at which it did not unveil any new US investments despite mounting tariff threats from US President Donald Trump. Trump has threatened to impose 100 percent tariffs on Taiwan-made chips, prompting market speculation that TSMC might consider boosting its chip capacity in the US or ramping up production of advanced chips such as those using a 2-nanometer technology process at its Arizona fabs ahead of schedule. Speculation also swirled that the chipmaker might consider building its own advanced packaging capacity in the US as part
‘NO DISRUPTION’: A US trade association said that it was ready to work with the US administration to streamline the program’s requirements and achieve shared goals The White House is seeking to renegotiate US CHIPS and Science Act awards and has signaled delays to some upcoming semiconductor disbursements, two sources familiar with the matter told reporters. The people, along with a third source, said that the new US administration is reviewing the projects awarded under the 2022 law, meant to boost US domestic semiconductor output with US$39 billion in subsidies. Washington plans to renegotiate some of the deals after assessing and changing current requirements, the sources said. The extent of the possible changes and how they would affect agreements already finalized was not immediately clear. It was not known
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday said that its investment plan in Arizona is going according to schedule, following a local media report claiming that the company is planning to break ground on its third wafer fab in the US in June. In a statement, TSMC said it does not comment on market speculation, but that its investments in Arizona are proceeding well. TSMC is investing more than US$65 billion in Arizona to build three advanced wafer fabs. The first one has started production using the 4-nanometer (nm) process, while the second one would start mass production using the