Mercedes 2002 Annual Report Download - page 17

6,455
2,930
2,162
1,006
358
7,14 5
2,495
3,155
1,263
95
137
7,492
2,616
3,308
1,324
100
144
Business Review |11
Continued concentration on the automotive
business
In 2002, we continued to implement our strategy of
concentrating on the automotive business and related
services.
With effect from January 1, 2002, DaimlerChrysler
exercised its option to sell its remaining 49.9% owner-
ship interest in T-Systems ITS (formerly debis System-
haus) to Deutsche Telekom AG. This transaction led
to a cash inflow of 14.7 billion and a one-time gain of
12.5 billion.
Effective April 1, 2002, we sold our 40% ownership
interest in Conti Temic microelectronic GmbH (formerly
TEMIC) to Continental AG. The resulting one-time gain
of 10.2 billion was accounted for in the second quarter
of 2002.
In the Services division we reached agreements in
2002 covering the scheduled disposal of additional
parts of the Capital Services portfolio (non-automotive
financial services). This reorganization of the Capital
Services portfolio led to a one-time loss of 10.3 billion.
After obtaining a full banking license for the Daimler-
Chrysler Bank, from July 2002 we were able to expand
our range of financial services (see page 47).
EAC: successful coordination of automotive
activities
The Executive Automotive Committee (EAC), established
in 2001, continued to work successfully. The EAC
coordinates all automotive issues across the three
automotive divisions, secures the identity of the Group’s
brands, and accelerates the realization of synergies.
In the year 2002, the work of the EAC focused on
optimizing the Group-wide portfolio of products, power-
trains and components (see pp. 42-43).
The Truck Product Decision Committee was set up
during 2002 to develop cross-market strategies and
initiatives, and to prepare the resulting decisions for the
truck business (see page 40).
Intensified cooperation with our partners in Asia
In May 2002, together with our partners, Mitsubishi
Motors Corporation and Hyundai Motor Company, we
founded the Global Engine Alliance LLC. This new
company is developing a new generation of 4-cylinder
gasoline engines for use in future models from Chrysler
Group, Hyundai Motor Company and Mitsubishi Motors.
The projected production volume of up to 1.5 million
units a year will make it one of the most widely used
engines in the industry, yielding significant economies
of scale for the companies involved.
In November 2002, DaimlerChrysler exercised its
contractually agreed option to acquire a 50% ownership
interest in the commercial-vehicle business of Hyundai
Motor, which is due to be spun off into a separate com-
pany. DaimlerChrysler will thus obtain direct access
to Asia’s third-largest market for commercial vehicles,
South Korea, in which Hyundai is the biggest-selling
manufacturer.
In March 2003, we intend to acquire a 43% ownership
interest for 1760 million in Mitsubishi Fuso Truck & Bus
Corporation (MFTBC) from our alliance partner
Mitsubishi Motors. MFTBC is the market leader in Japan
with a share of around 30% and also has a strong
position in the markets of Southeast Asia. By expanding
our activities in Asia and cooperating more intensively
with our Asian partners, DaimlerChrysler will be able to
participate better in the potential offered by the Asian
markets, which are the fastest growing in the world and
where already more than 50% of all commercial vehicles
are sold (see pages 50-51).
2001
3
2002
3
In millions
8,896
2,061
5,083
1,484
112
168
Investments in Property, Plant and Equipment
2002
US $
2001
3
2002
3
In millions
DaimlerChrysler Group
Mercedes Car Group
Chrysler Group
Commercial Vehicles
Other Activities
6,156
2,794
2,062
959
341
6,008
2,402
2,201
1,015
390
Research and Development Expenditure
2002
US $
DaimlerChrysler Group
Mercedes Car Group
Chrysler Group
Commercial Vehicles
Services
Other Activities