In a brief statement, Chrysler has announced that the Global Engine Manufacturing Alliance (GEMA) is now entirely owned by the U.S. automaker, with both former partners, Mitsubishi and Hyundai, having sold their parts of the company.

This may sound like a dull bit of business news, but it could most certainly have a big impact on some of the coolest engines on the planet. Sure, the engines that originated from GEMA have found there way into less exciting vehicles like the Chrysler Sebring, but the same engines have also been the backbone of cars like the Mitsubishi Lancer Evolution (pictured above) and Hyundai Genesis Coupe 2.oT. The high-powered Caliber SRT4 also used a version of a GEMA engine.

Three basic engines have come out of GEMA with displacements of 1.8, 2.0 and 2.4-liters, many of which were fitted with turbochargers and superchargers to make as much as 300hp.

There is no word if the end of the GEMA partnership could affect future Hyundai and Mitsubishi powertrain developments, but you can be sure the decision had a lot to do with Chrysler's new Fiat ownership.

More: Report: Chrysler Ends Engine Alliance With Mitsubishi and Hyundai on AutoGuide.com

This is sum news , ive heard about it. ALtho the blocks are loose replicas of Mitsubishi ones , the cylinder heads are all made specifically by Mitsubishi i have heard and they are not much a part of the whole GEMA thing as the rest of the "short block" . I wonder wut will happen tho. With Mitsubishi teamed up well with Hyundai/KIA of Korea i dun think they really need GEMA anymore. Mitsubishi have shared engine technology with them for over 20 years and have also been a source of engines. Mitsubishi's 6G7 engine series technology is wut Hyundai bases their Sigma V6 on , down to 78 percent , with the head design that of the 6A1 series , being its not as wide as the 6G7 DOCH head.

They do not really need Chrysler , maybe thats why they sold it off to Chrysler. Besides who needs to be attached , or wants to be attached to Chrysler nowdays