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The plan for the revitalization of DaimlerChrysler (DCX) is being called "Project X" which calls for a closer unity between Chrysler and Mercedes and a cut of 10,000 jobs. The Detroit News reports that the new plan calls for sharing of vehicle architectures and parts between Chrysler and Mercedes, including developing small cars and SUVs together.

Clearly, something needs to be done to get the company back on track in the competitive automotive landscape. Jobs cuts are inevitable but probably won't be enough. The Mercedes name may be tarnished as result as Damiler attempts to deal with the ailing Chrysler.

Project X is officially to be unveiled February 14. At that time we will be able to better dissect the company from an equity standpoint. However, too many questions will likely still exist to considering this as an investment.

DCX 1-yr chart:

Source: New Direction for DaimlerChrysler?