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DaimlerChrysler AG of Stuttgart, Germany is a prominent automobile and truck manufacturer, formed in 1998 by the buyout of the Chrysler Corporation (USA) by Daimler-Benz (Germany). The merger which was announced on May 7, actually took place on November 12. At that time it was presented with marketing portraying as a "merger of equals" - The company produces cars and trucks under Mercedes-Benz and Chrysler brands. Other car brands offered are: Smart and Maybach on the Daimler-Benz side, Dodge and Jeep on the Chrysler side. The company also owns a substantial share in the Japanese car company Mitsubishi and the car operations of Korean manufacturer Hyundai.
As of 2002, the merged company appeared to run two independent product lines, with few signs of corporate integration. In 2003 however, it was revealed by the Detroit News that the "merger of equals" was, in fact, a buyout. This news came forth as new products such as the Chrysler Crossfire (using extensive Mercedes parts) and the Dodge Sprinter (a rebadged Freightliner Sprinter van) came to market. Future cars are to share platforms across all of DaimlerChrysler's brands.