DaimlerChrysler Board OKs Chery Deal

DaimlerChrysler AG said Tuesday that its supervisory board gave its approval for a limited partnership with China's Chery Motor Co. to build small, economical cars for North America and western Europe.

The deal, which still requires approval by China's government, will see the Chery-built cars distributed under the aegis of Chrysler's brands, including Dodge and Jeep.