Chrysler To Offer Nissan Versa Sedan Based Model In South America

Chrysler LLC and Nissan today announced an agreement for Nissan to supply Chrysler with the new Versa sedan on an Original Equipment Manufacture (OEM) basis for limited distribution in South America starting in 2009. The two companies also stated that they have agreed to maintain an open dialogue to explore further product-sharing opportunities. -Continued

"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 Co-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.