Nissan, Chrysler ink strategic deal
Tokyo, January 13, 2008
Nissan and Chrysler have agreed to have Japan's number one carmaker supply cars to Chrysler for sale in South America from next year, the companies said.
The car model, based on the Nissan Versa sedan, will be supplied under what is called an OEM, or 'original equipment manufacture', agreement.
That means Nissan Motor Company will supply the cars, which are also sold as Nissan models, to Chrysler so the US carmaker can sell them under its own brand.
Such OEM agreements are fairly common among carmakers and are far short of a major alliance like the one Nissan has with Renault of France. But they can help cut costs and strengthen product offerings immediately.
Detailed terms of the agreement were not disclosed, but a top Nissan executive said talks will continue about sharing other products.-TradeArabia News Service
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