Chrysler and Nissan Confirm New OEM Product Agreements

**rickaren** · #1 (**permalink**) 04-14-2008, 05:12 PM

AUBURN HILLS, Michigan and TOKYO, April 14 /PRNewswire/ --

Chrysler LLC and Nissan Motor Co., Ltd., today announced two new
agreements for the supply of products between both companies. In January,
Nissan agreed to supply Chrysler with a new car based on the Nissan Versa
sedan for limited distribution in South America on an Original Equipment
Manufacture (OEM) basis in 2009.

This new OEM exchange benefits both companies through range extension and the utilization of global manufacturing capacity. Highlights of the new
agreement:

Nissan will manufacture an all-new, fuel-efficient small car based on a
unique Chrysler concept and design. This new segment entry for Chrysler will
be sold in North America, Europe and other global markets in 2010, and
manufactured at Nissan's Oppama Plant in Japan.

Chrysler will manufacture a full-size pickup for Nissan. Based on a
Nissan unique design, this truck will be manufactured at Chrysler's Saltillo
(Mexico) Assembly Plant. In order to accommodate this product, Chrysler will
shift volume from Mexico to its U.S.-based assembly plants that produce
pickup trucks. Sales of the pickup in North America will start in 2011.

This latest OEM supply agreement extends a long standing product exchange relationship between the two corporations, with Nissan affiliate JATCO already supplying Chrysler with transmissions since 2004.

"Forging the right tactical partnerships is critical to the long-term
success of Chrysler," said Tom LaSorda, Chrysler LLC President and Vice
Chairman. "It also builds on the Company's inherent strengths, including the
ability to respond rapidly and creatively to emerging opportunities."

"In January, we said we would continue to look for additional OEM
opportunities with Chrysler," said Carlos Tavares, Executive Vice President,
Nissan Motor Company. "This latest agreement builds on Nissan's proven track
record to deliver win-win product exchanges with multiple manufacturers
around the world," continued Tavares.

Since the signing of the first OEM agreement in January, the two
companies have also agreed to maintain an open dialogue to explore further
product-sharing opportunities.

Chrysler LLC