One of the "Big Three" American automakers, Stellantis North America has its headquarters in Auburn Hills, Michigan. It is a branch of the international automaker Stellantis in the United States.
In the 1960s, Chrysler increased its presence in Europe by acquiring the French, British, and Spanish car industries. In 1978, Chrysler Europe was sold to PSA Peugeot Citron for $1. In the 1970s, the business found it difficult to adjust to shifting markets, growing competition from American imports, and safety and environmental regulations. It started marketing Mitsubishi automobiles with the Dodge and Plymouth names in North America after establishing an engineering relationship with Mitsubishi Motors. In the late 1970s, it was on the verge of going bankrupt when $1.5 billion in loan guarantees from the US government prevented it.
In the 1980s, the company's new CEO Lee Iacocca is credited with restoring its profitability. Diamond-Star Motors was established in 1985, strengthening the Chrysler-Mitsubishi partnership. When Chrysler bought American Motors Corporation (AMC) in 1987, the lucrative Jeep brand was added to the Chrysler family. Chrysler and German carmaker Daimler-Benz combined in 1998 to become DaimlerChrysler AG; the combination was controversial with investors. Chrysler was then transferred to Cerberus Capital Management and given the new name Chrysler LLC in 2007.
Chrysler was hit by the 2008–2010 automotive industry crisis, much as the other Big Three automakers. Under a combination of settlement talks with creditors, filing for Chapter 11 bankruptcy reorganization on April 30, 2009, and taking part in a bailout from the US government through the Troubled Asset Relief Program, the company managed to stay in operation. On June 10, 2009, Chrysler emerged from bankruptcy proceedings with the U.S. and Canadian governments as major shareholders in addition to Fiat S.p.A., the United Auto Workers pension fund, and other financial backers. Chrysler defaulted on more than $4 billion in debts as a result of the bankruptcy. Although it cost the American public $1.3 billion, Chrysler finished paying off its debt to the government five years early in May 2011.
Chrysler Official Site - Cars and Minivans