In Stuttgart, Germany, DaimlerChrysler spokeswoman Karin Funke
said the two companies are in talks and planned to announce the outcome in the near future.'' She
would not elaborate.
Japan's quasi-public NHK TV reported Monday that DaimlerChrysler will boost its stake in Mitsubishi to about 40 percent, making DaimlerChrysler the top shareholder, surpassing the combined shares held by companies in the powerful Mitsubishi conglomerate.
Since July, Mitsubishi has recalled 620, 000 vehicles for defects, including failing brakes, fuel leaks and malfunctioning clutches.The recalls came only after government inspectors found documents about auto defects hidden in a company locker room.
An internal Mitsubishi investigation found that the cover-up of driver complaints and auto defects began as far back as 1977.