A few days ago we told about DaimlerChrysler's plans to revitalize the smart brand by dropping the troubled smart forfour model.

Today in a brief statement, DaimlerChrysler has announced their company's governing bodies have approved the smart restructuring plan, and that the company has signed a non-binding Terms Sheet with the Mitsubishi Motors Corporation with the goal of entering into a binding agreement regarding the cancellation of the smart forfour.

So long good buddy.

You can find more info in the miniature press release below.


OFFICIAL PRESS RELEASE


New alignment of smart approved

DaimlerChrysler and Mitsubishi Motors Corporation sign non-binding Terms Sheet

Stuttgart, Mar 30, 2006
The governing bodies of DaimlerChrysler AG have approved measures related to the company’s focus on the smart fortwo, including the intention to cancel production of the smart forfour.

DaimlerChrysler and Mitsubishi Motors Corporation have signed a non-binding Terms Sheet as the basis for formal negotiations, with the goal of entering into a binding agreement regarding the cancellation of the smart forfour.

Copyright © DaimlerChrysler AG