DaimlerChrysler NEARS DEAL TO BRING CHINESE AUTOS TO UNITED STATES & EUROPE

From USA Today:

Chrysler Group moved a step closer Tuesday to becoming first to bring Chinese-made cars to the USA. German parent DaimlerChrysler approved a deal to team with Chinese carmaking phenomenon Chery Motor to develop small cars that could be sold in the USA and Europe. If the Chinese government approves the deal as expected next month, Chrysler's Chinese-made cars could be on American roads within a couple of years, Chrysler spokesman Dave Elshoff says. The partnership will focus on developing a car tinier than the Dodge Caliber, currently the smallest vehicle in the Chrysler lineup. The new car would be more the size of Chevrolet Aveo or Honda Fit. As automaking goes, Chery's success has been the stuff of legend. From a start only eight years ago, it is ranked fourth among Chinese automakers with sales of 302,000 vehicles last year, says John Humphrey, senior vice president of Asian-Pacific operations for J.D. Power and Associates. It grew 60% in 2006.