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Saturday, 12 April 2014

Chrysler

In January 1924, Walter Chrysler launched the well-received Chrysler automobile.

The Chrysler company was created by Walter P. Chrysler in 1925 when he renamed the Maxwell Motor Company.

Among the innovations in its early years were the first practical mass-produced four-wheel hydraulic brakes and rubber engine mounts to reduce vibration. Chrysler also developed a wheel with a ridged rim, designed to keep a deflated tire from flying off the wheel. This wheel was eventually adopted by the auto industry worldwide.

The 1,046 feet (319 m) Chrysler Building in New York City opened to the public on May 27, 1930. The Chrysler building was born out of a race between Walter Chrysler and General Motors executive John R Raskob to build the world's tallest skyscraper. The Chrysler was the tallest building in the world for just a few weeks in 1930, until Raskob added a few more stories to his Empire State building, pipping the Chrysler by 62 metres.

Chrysler Building 

Chrysler introduced the first commercially available passenger car power steering system on the 1951 Chrysler Imperial under the name "Hydraguide.”

Chrysler built 55 turbine-powered cars from 1963-1964. they could run on any fuel that could burn with oxygen, including tequila and perfume, and produced 130 horsepower. Only nine still exist.

In the 1970s, a number of factors including the 1973 oil crisis impacted Chrysler's sales, and on September 7, 1979, The Chrysler Corporation asked the United States government for US$1.5 billion to avoid bankruptcy.

In 1987, Chrysler acquired American Motors Corporation (AMC), which brought the profitable Jeep brand under the Chrysler umbrella.

Chrysler Headquarters in Auburn Hills, Michigan, United States

In 1998 Mercedes-Benz brought Chrysler for $40 billion USD forming DaimlerChrysler. It was at the time the largest industrial merger in history.

In 2009 Chrysler managed to stay in business after participating in a bailout from the U.S. government through the Troubled Asset Relief Program. On June 10, 2009, Chrysler emerged from the bankruptcy proceedings with the United Auto Workers pension fund, Fiat S.p.A., and the U.S. and Canadian governments as principal owners.

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