Chrysler and Nissan Confirm new deal


Chrysler and
Nissan Confirm new OEM Product Agreements
Hills, Mich./Tokyo, Apr 14, 2008  –  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
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

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.




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