The BMW Group has transferred its shares in Tritec Motors Limitada to DaimlerChrysler’s Chrysler Group effective as of July 11, 2007.

The companies - who each held half of the shares in the Brazilian engine plant - have agreed not to divulge the details of the transaction, which is subject to administrative registration and regulatory approval.

Chrysler Group has assumed the responsibility for exploring long-term options for the Tritec operations whereby all possible alternatives for continuing the business for the long run are under analysis. This may include a sale of the facility to a third-party.

Tritec Motors was founded in 1997 by the BMW Group and the Chrysler Group for the production of 1.4 and 1.6 litre four-cylinder petrol engines. The engine plant is located in the town of Campo Largo in the region of Curitiba, in the Federal State of Paraná, southern Brazil. Large-scale series production started in January 2000; the plant’s annual production capacity is around 250,000 units.