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Business Ticker: NORTH AMERICA: MANUFACTURING: AUTOMOTIVE

Chrysler looks to China for international growth

AP

July 5, 2008

Chrysler LLC, looking for foreign partnerships to help drive its business as U.S. sales slump, announced a deal with China's Great Wall Motor Co. yesterday to study sharing technology, components and distribution. Chrysler, the smallest of the three major U.S. auto makers, is trying to expand sales in the fast-growing Chinese market and has a deal with China's Chery Automobile Co. to produce a low-cost model for sale under its Dodge brand. Under the new agreement, Chrysler and Great Wall will look at ways to use each other's distribution networks and component and technology capabilities, Chrysler said in a statement. The agreement "represents part of Chrysler's ongoing efforts to explore opportunities to expand the company's involvement in the development of China's auto industry, as well as growing Chrysler's global business through the right partnerships," Chrysler spokeswoman Shawn Morgan said in the statement.

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