DaimlerChrysler today announces the creation of a new division to oversee its online activities.

DCX-Net, set for launch in Stuttgart, will combine DaimlerChrysler’s current distribution, sales and purchasing activities via the internet. It is believed to have $500 million of capital to invest in online acquisitions.

Heading DCX-Net is Eckhard Cordes, currently the board member responsible for IT-management.

DaimlerChrysler is currently involved in internet business exchange Covisint, alongside General Motors and Ford. The new division may co-ordinate this role.

News source: Financial Times