Chrysler, Nissan team up
Nissan and Chrysler have signed an agreement that will see Nissan supplying Chrysler with a new car from 2009.
Based on the Nissan Tiida, the car will be supplied to Chrysler for distribution in South America.
"This kind of tactical partnership allows us to maximise product offerings yet minimise costly investments -- such as new plant infrastructure, tooling and R&D," said Chrysler LLC president and co-chairman Tom LaSorda.
"This partnership will give Chrysler nearly immediate access to vehicle segments in which we do not currently compete."
Carlos Tavares, executive vice president for Nissan Motor Company, said: "Nissan has a successful track-record of win-win product exchanges and we are pleased to be entering into this second agreement with Chrysler."
Nissan associate JATCO has supplied Chrysler with transmissions since 2004.
Similar announcements are expected to follow as the two companies have agreed to continue discussing further product sharing opportunities.