Remaining agreements cease

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Aug 26, 2009 | 04:18 PM

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JHM2K

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Remaining agreements cease

Nissan and Chrysler Announce End to Three OEM Vehicle-Supply Projects

Nissan and Chrysler today announced a mutual agreement to end three OEM vehicle-supply projects announced last year.

For the past several months, teams from both companies have been studying the viability of the projects in light of significant changes in business conditions since the projects were announced in January and April of 2008.

Today, it was decided it was in the best interests of both companies to end the projects.

The projects had involved:

Nissan providing to Chrysler a compact sedan for the South American market beginning this year.
Nissan providing to Chrysler a small vehicle for global markets beginning in 2010.
Chrysler providing to Nissan a full-size pickup truck starting in 2011.

While the projects were being re-evaluated, Nissan was developing contingency plans to maintain Nissan’s presence in the full-size pickup truck market in the future. We can confirm there will be a successor to the current Titan in this very important segment of the market and we are pursuing in-house options.

A separate agreement involving the supply of transmissions from Nissan affiliate JATCO to Chrysler remains unchanged. That agreement has been in effect since 2004.