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DaimlerChrysler and GM Finalize Hybrid Agreement

August 31, 2005

DaimlerChrysler and General Motors have signed a definitive agreement to jointly develop hybrid powertrains. The agreement was originally announced in December 2004, and finalized early this week.DaimlerChrysler will lead the development of hybrid powertrains for rear-wheel-drive luxury cars. GM will take the lead for rear-wheel-drive full-size trucks, sport-utility vehicles and front-wheel-drive vehicles. The first hybrids under the plan, the Dodge Durango and Chevrolet Tahoe, are expected out in late 2007.
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