The Chrysler LLC Corporation was founded as a vehicle manufacturing company in 1925 by Walter P. Chrysler. Between the years of 1998-2007 they were part of the DaimlerChrysler group when the two merged. Daimler was formerly of Daimler-Benz AG and is now known simply as Daimler AG. In August of 2007, the Chrysler side of the merger was sold to an American firm, Cerberus Capital Management, L.P. The new owners have just over 80 percent of the DaimlerChrysler company while Daimler has just under the remaining 19 percent. The company is now known as the Chrysler Group. The company’s headquarters, like many other vehicle manufacturing companies, is located in Auburn Hills, Michigan.

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