Chrysler and Nissan Confirm new deal

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.