DaimlerChrysler AG was a major automotive corporation formed in 1998 through the merger of Daimler-Benz and Chrysler Corporation. The company aimed to create a global automotive powerhouse, combining luxury vehicles from Mercedes-Benz with mass-market cars from Chrysler. However, the merger faced challenges due to cultural differences and operational issues. In 2007, DaimlerChrysler AG was restructured, leading to the sale of Chrysler to Cerberus Capital Management. The company then focused on its core brand, Daimler, and continued to produce a range of vehicles, including trucks and buses.