Daimler-Benz merged with Chrysler in 1998 to create DaimlerChrysler.
The companies announced the transaction in May 1998, describing it as a merger of equals. The new company, DaimlerChrysler AG, began operating after the deal completed in November 1998. It combined Mercedes-Benz’s German-based operations with Chrysler’s American automotive business.
Chrysler was one of the three major American automobile manufacturers and owned brands including Dodge, Jeep, and Plymouth at the time. Daimler-Benz was best known for Mercedes-Benz passenger cars and commercial vehicles.
Although presented as a merger, the partnership later became controversial because the businesses and corporate cultures did not integrate as expected. DaimlerChrysler sold most of Chrysler to Cerberus Capital Management in 2007, and Chrysler later entered bankruptcy proceedings during the global financial crisis.