Diamond Star Motors
Encyclopedia : D : DI : DIA : Diamond Star Motors
Diamond Star Motors (commonly abbreviated to DSM) was an automobile manufacturing joint venture between the Chrysler Corporation and Mitsubishi Motors Corporation (MMC). The name came from the parent companies' logos: three diamonds (Mitsubishi) and a pentastar (Chrysler). Three of the vehicles produced by Diamond Star Motors, the Mitsubishi Eclipse, Eagle Talon, and Plymouth Laser, are also generally referred to as DSMs.
Background
The seeds of Diamond Star Motors were sown in 1970 when Chrysler took a 15% stake in the Japanese company. The US company imported and distributed several small Mitsubishis and rebadged them as Dodge Colts. Plymouth versions were also eventually created, and were marketed in Canada as well. These captive imports were successful, and some later vehicles (such as the early Dodge Caravan and Dodge Aries) used Mitsubishi engines in Chrysler chassis.During the early 1980s, Chrysler was looking to boost lagging sales while Mitsubishi sought to increase its presence in America without violating the voluntary US/Japan import-quota system. In October 1985, the two parent companies officially incorporated Diamond Star Motors, and in April 1986 ground was broken on a 1.9 million square-foot (177,000m²) production facility in Normal, Illinois. The plant was completed in March 1988, with an annual capacity of 240,000 vehicles.
Initially Diamond Star Motors was a 50/50 joint venture between Chrysler and Mitsubishi. However, in 1991 the Japanese company purchased its partner's equity stake, and thereafter the manufacture of Chrysler vehicles was on a contractual basis. Chrysler sold its Mitsubishi stake in 1993, and Diamond Star Motors was officially renamed to Mitsubishi Motor Manufacturing of America, Inc (MMMA) on July 1st, 1995.
Following Chrysler's merger with Daimler Benz two years previously, the new DaimlerChrysler Corporation (DCX) purchased a controlling 34% interest in Mitsubishi in March 2000.["DaimlerChrysler/Mitsubishi; A Marriage of Convenience"] Alisa Priddle, Ward's Auto World, May 2000 - URL last accessed 24 May 2006 However, the relationship quickly soured as several high-profile crises plunged Mitsubishi into the red. In 2004, DCX refused a request for further assistance, forcing MMC to seek alternative financial support, a move which led to the dilution of DCX's interest until it was eclipsed by venture-capital firm Phoenix Capital.["DaimlerChrysler’s Mitsubishi Denial Could Derail Chrysler"] Neil Winton, Winton's World, 29 April 2004 - URL last accessed 24 May 2006 DCX's remaining shares were finally disposed of in November 2005, although they have continued to co-operate in existing ventures such as the Global Engine Manufacturing Alliance. The plant is now once more 100% owned by Mitsubishi Motors North America.
Plant production
Initially, three models were produced at this facility. The Mitsubishi Eclipse, Plymouth Laser and Eagle Talon were smaller 2+2 sports cars on a new co-designed platform. Models subsequently produced during the next decade include: Today, the plant produces vehicles using the American-developed Mitsubishi PS platform, including:- Mitsubishi Endeavor (2004-current)
- Mitsubishi Galant (2005-current)
- Mitsubishi Eclipse (2006-current)
Production numbers
Mitsubishi's official figures for the number of vehicles produced annually at the DSM facility are as follows:- 1988 ~ 2,409
- 1989 ~ 90,741
- 1990 ~ 148,379
- 1991 ~ 153,936
- 1992 ~ 139,783
- 1993 ~ 136,035
- 1994 ~ 169,829
- 1995 ~ 218,161
- 1996 ~ 192,961
- 1997 ~ 189,086
- 1998 ~ 157,139
- 1999 ~ 161,844
- 2000 ~ 222,036
- 2001 ~ 193,435
- 2002 ~ 202,352
- 2003 ~ 173,699
- 2004 ~ 113,435
External links
References
From Wikipedia, the Free Encyclopedia. Original article here. Support Wikipedia by contributing or donating.
All text is available under the terms of the GNU Free Documentation License See Wikipedia Copyrights for details.