On Aug. 26, Nissan and Chrysler announced a mutual agreement to end three OEM vehicle-supply projects announced last year. Below is the statement:
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:
1. Nissan providing to Chrysler a compact sedan for the South American market beginning this year.
2. Nissan providing to Chrysler a small vehicle for global markets beginning in 2010.
3. Chrysler providing to Nissan a full-size pickup truck starting in 2011.
A separate agreement involving the supply of transmissions from Nissan affiliate JATCO to Chrysler remains unchanged. That agreement has been in effect since 2004.