|AUBURN HILLS, Mich. - DaimlerChrysler and Sirius Satellite
Radio announced an agreement to bring satellite radio to DaimlerChrysler customers
beginning next year.
Sirius Radio will provide DaimlerChrysler customers with seamless
coast-to-coast coverage of up to 100 channels of programming, including 50 channels of
commercial-free music and up to 50 channels of news, sports and entertainment for a
monthly subscription fee of $9.95.
Under the terms of the agreement, DaimlerChrysler Corporation will purchase $100
million of Sirius common stock and exclusively factory-install Sirius receivers in
DaimlerChrysler cars and light trucks. The arrangement includes all DaimlerChrysler brands
sold in the United States, including Mercedes-Benz, Chrysler, Jeep(R), Dodge, Dodge Truck,
as well as Freightliner and Sterling heavy trucks.
DaimlerChrysler and Sirius will also work together to develop innovative telematics
functions using the Sirius national digital broadcasting system. These applications may
include a range of wireless security, convenience and navigation services for
DaimlerChrysler vehicle owners. This is a further step in DaimlerChrysler's strategy to
create and develop technologies to better serve its customers.
DaimlerChrysler is North America's third largest auto manufacturer, selling more than
4.8 million vehicles worldwide per year. Freightliner is North America's largest
heavy-duty truck manufacturer -- and the first truck manufacturer to agree to install
satellite radios in commercial vehicles.
Sirius has alliances with eight leading automotive electronics manufacturers to produce
digital receivers for the automotive aftermarket and for installation in new cars. These
companies include Alpine, Audiovox, Clarion, Delphi Delco Electronics, Kenwood, Panasonic,
Recoton, and Visteon.
(Feb. 1, 2000)