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June 20, 2007

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DaimlerChrysler Truck Group enters Strategic Cooperation with Fiat Powertrain Technologies

The DaimlerChrysler Truck Group and Fiat Powertrain Technologies (FPT) announced today to have concluded a strategic co-operation agreement in the field of powertrains. The first step of this agreement concerns the long-term supply of light-duty diesel engines (FPT F1C) to the Mitsubishi Fuso Bus & Truck Corporation (MFTBC), to be used in the Canter light commercial vehicle which will be marketed in major markets, including and . FPT will supply around 80,000 F1C engines per year to Mitsubishi Fuso starting in 2009. The supply volumes will increase over the following years.

Alfredo Altavilla (Fiat) & Andreas Renschler (DaimlerChrysler)

The engine is a Common Rail Diesel engine, with displacement, rated 177 Hp at 3,500 rpm and a torque of 400 Nm at 1,400 rpm. Thanks to the optimized design of all engine components and to the advanced technology of its injection and turbocharging systems, the F1C engine guarantees excellent performance and fuel consumption. The F1C engine is currently manufactured only in , but production in an additional site will shortly be started as part of the globalization of FPTs footprint.

The current Canter generation was introduced in 2002 and is one of the most successful light-duty trucks in - sold over 132,000 times in over 106 countries world-wide. Its great success and Mitsubishi Fuso’s core competence for such vehicles makes MFTBC the world-wide Competence Centre for light-duty trucks within the DaimlerChrysler Truck Group.

Within the framework of this strategic supply-agreement the two companies are also investigating further potential business opportunities in other markets, including .

“This agreement is a key step in our strategy aimed at developing strategic partnerships in all sectors of the Group” said Sergio Marchionne, CEO of Fiat Group. “Our ability to partner with DaimlerChrysler is confirmation that the decision to carve out our powertrain activities as a separate sector two years ago was the right one, and that we have products and technical skills to satisfy the needs of a demanding market.”

Dieter Zetsche, Chairman of the Board of Management of DaimlerChrysler AG and responsible for the Mercedes Car Group, said: “Today’s and future emission regulations demand a high level of investment and technological specialization. This agreement provides a value added for both companies, Fiat Group and DaimlerChrysler .”

Andreas Renschler, Member of the DaimlerChrysler Board of Management and responsible for the Truck Group, added: “Today is a milestone for the DaimlerChrysler Truck Group in many ways. With this alliance we have reached the best decision for our Fuso customers as we will offer them the most modern, technologically advanced and ecologically friendly light-duty engine for their businesses. And the engine will deliver high performance combined with highly competitive fuel efficiency.”

“This agreement witnesses the level of our technology and supports the strategic role of FPT in expanding its business outside the captive market” said Alfredo Altavilla, CEO of Fiat Powertrain Technologies. “We trust this supply agreement can be the first step in a long-lasting and mutually satisfactory cooperation in further selected projects.”

All Photos: DaimlerChrysler

(June 19, 2007)

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