AUBURN HILLS, Mich., Jan. 11 /CNW/ -- Chrysler LLC and Nissan Motor Co.,
Ltd., today announced an agreement for Nissan to supply Chrysler with a new
car for limited distribution in South America. Based on the Nissan Versa
sedan, the new car will be supplied to Chrysler on an Original Equipment
Manufacture (OEM) basis in 2009.
The OEM supply agreement is the second product exchange between the two
corporations, with Nissan affiliate JATCO already supplying Chrysler with
transmissions since 2004.
"This kind of tactical partnership allows us to maximize product
offerings yet minimize costly investments -- such as new plant infrastructure,
tooling and R&D," said Chrysler LLC President and Vice Chairman Tom LaSorda.
"This partnership will give Chrysler nearly immediate access to vehicle
segments in which we do not currently compete."
"Nissan has a successful track-record of win-win product exchanges and we
are pleased to be entering into this second agreement with Chrysler," said
Carlos Tavares, Executive Vice President, Nissan Motor Company.
The two companies have also agreed to maintain an open dialogue to
explore further product-sharing opportunities.
Chrysler LLC, headquartered in Auburn Hills, Mich., produces Chrysler,
Jeep(R), Dodge and Mopar(R) brand vehicles and products. Its product lineup
features some of the world's most recognizable vehicles, including the
Chrysler 300, Jeep Wrangler and Dodge Charger. The Chrysler Foundation -- the
primary source of charitable grants made by Chrysler -- annually supports
hundreds of charitable organizations with an emphasis on community growth and
enrichment, education, arts and culture, public policy, youth development and
disaster relief programs throughout the United States and, increasingly, the
world. Chrysler is a unit of Cerberus Capital Management.
Nissan Motor Company generated global net revenues of 10.468 trillion yen
in 2006. Nissan is present in all major global auto markets selling a
comprehensive range of cars, pickup trucks, SUVs and light commercial vehicles
under the Nissan and Infiniti brands. Nissan employs over 180,000 people
Under the Nissan Value-Up business plan, the company continues to focus
on long-term sustainable and profitable growth driven by three commitments:
-- To maintain top level of operating profit margin among global
-- To achieve global sales of 4.2 million units in 2009
-- 20% return on invested capital on average over the course of the plan
For further information:
For further information: Lori McTavish of Chrysler, +1-248-512-2642,
cell: +1-248-202-9908, firstname.lastname@example.org; or Simon Sproule of Nissan Motor
Co., Ltd. (Japan), +81-(0)90-9954-0810