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Smart is an automotive industry Daimler AG. Smart is a German manufacturer of small cars produced in Boblingen at Germany and Hambach at France. In late 1980, SMH (brand watches Swatch) to the CEO Nicolas Hayek, began developing the idea for a new car. He believed that the automobile industry has ignored the majority of potential customers who want a small, stylish city car, this idea became known as Swatchmobile.
Private company Hayek Engineering AG began designing the new two-seater car for SMH. Rather compete directly, Hayek chose to partner with another company in the automotive industry. Thus, in 1991, reached an agreement with Volkswagen to share development of new project cars Smart. In 1993, Volkswagen is working on the Smart, which is expected to have fuel consumption of 3 liters per 100 kilometers.
Hayek was suspected over new CEO of Volkswagen fro his agreement with SMH. Since, he is discreetly looking for starting to produce cars Smart automakers. Repulsed by BMW, General Motors, Renault and Fiat, he finally reached an informal agreement with Daimler-Benz AG. The car was successfully launched in nine European countries in October 1998.
A little later Daimler-Benz bought the remaining stake in the company SMH. Now Smart is a wholly owned subsidiary of Daimler-Benz. After 2000, the model line was expanded with the Smart Roadster, whose engine was mounted in the rear. Ambitious expansions in Smart cars failed significantly increase company profits.