Smart Move?Smart signs Memorandum of Understanding with a British consortium to redesign, produce and sell the former Roadster & Coupe models
DaimlerChrysler's struggling Smart brand signed a memorandum of understanding to licence its Roadster and Coupe derivative model to a consortium led by British businessman David James. Smart discontinued the Roadster & Roadster Coupe models last year as part of its restructuring plan, as the Swiss based company has not made a profit since its creation.
Smart and the British consortium ‘Project Kimber’ signed a Memorandum of Understanding (MoU) on Friday, 17 February 2006.
The intention of the MoU is to draw up a contract within the next few months which would give Project Kimber the licence to redesign, produce and sell the former smart models roadster and roadster-coupé under a different brand. Additionally, the MoU includes the intention to purchase production equipment for both models that is not needed by smart anymore.
