Started Joint Venture with Volkswagen in 1991, but Volks pulled out in 1993 when CEO changed. Joint Venture eventually switched to Daimler/Mercedes Benz (so it's now a Chrysler!). "Smart" is actually Acronym for Smart Mercedes Art.
There have been a number of models developed, but most have been eliminated. The For Two is the core offering.
It gets 36mpg, the most efficient non-hybrid on the market. (I could swear that small cars were doing better than that 20 years ago - were those just bogus manufacturer-numbers, or has Fuel Economy gotten worse?)
They're working on a hyrbrid and a pure Electric Vehicle.