It's been a year of ups and mostly downs for Chrysler, and you just can't expect every partner to hang on for the ride. As such, Nissan and Chrysler released a joint statement today announcing a mutual end to their agreement to jointly produce three vehicles. The vehicles were to include a new Titan full-size pickup truck for Nissan based on the Dodge Ram, a new small car for Chrysler based on the Nissan Tiida (Versa in the U.S.), and another compact sedan from Nissan for Chrysler to sell in South American markets. The joint release blames "significant changes in business conditions" as the reason for the breakup, though we suspect it has more to do with the condition of Chrysler than anything else.

[Source: Nissan, Chrysler]


PRESS RELEASE

The following is a joint statement from Nissan and Chrysler

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:
  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.