Friday, March 31, 2006

Mitsubishi to seek compensation from DCX for SMART ForFour cancellation

Posted Mar 30th 2006 5:34PM by Joel Arellano

Following DaimlerChrysler's announcement that it will be stopping production of the SMART ForFour sedan, partner Mitsubishi Motors Corp. has stated it will end production at the company's Netherlands plant as well. The Japanese automaker still plans to manufacturer engines for DCX's SMART two-seaters.Both companies have not yet determined when will be the last day of production. The Nihon Keizai Shimbun states, though, that Mitsubishi will be seeking financial compensation for DCX's abrupt termination of their partnership in the ForFour.[Source: Nihon Keizai Shimbun via AFX News Limited via Forbes]

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