Global Engine Manufacturing Alliance
Overview
Joint venture
A joint venture is a business agreement in which parties agree to develop, for a finite time, a new entity and new assets by contributing equity. They exercise control over the enterprise and consequently share revenues, expenses and assets...
of Chrysler
Chrysler
Chrysler Group LLC is a multinational automaker headquartered in Auburn Hills, Michigan, USA. Chrysler was first organized as the Chrysler Corporation in 1925....
, Mitsubishi Motors
Mitsubishi Motors
is a multinational automaker headquartered in Minato, Tokyo. In 2009 it was the fifth-largest Japan-based automaker and the 17th-largest in the world measured by production...
, and Hyundai Motor Company
Hyundai Motor Company
Hyundai Motor Company is a Korean multinational automaker based in Seoul, South Korea which, along with Kia, comprises the Hyundai Kia Automotive Group, the world's fourth largest automaker as of 2009. As of 2011, it is the world's fastest growing automaker for two years running...
for developing a line of shared engines. In September 2009, Chrysler bought out the shares of Mitsubishi and Hyundai after a 5-year run of allied research and development.
The World Engine has five factories worldwide; two (GEMA) in Dundee, Michigan
Dundee, Michigan
Dundee is a village in Monroe County in the U.S. state of Michigan. The population was 3,522 at the 2000 census. The village is located within Dundee Township. Through a series of annexations and land transfers, the village has greatly increased in size over the past several years...
, United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, two in South Korea
South Korea
The Republic of Korea , , is a sovereign state in East Asia, located on the southern portion of the Korean Peninsula. It is neighbored by the People's Republic of China to the west, Japan to the east, North Korea to the north, and the East China Sea and Republic of China to the south...
and one in Shiga, Japan
Japan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...
.
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