DaimlerChrysler Secures Joint Project Deal with Mitsubishi

Renewed Agreement Calms Waters Between Two Automakers Still Reeling from Soured Bailout Deal

Doubtfully there are two automakers that need each other's help more than Chrysler Group and Mitsubishi Motors, especially

Chrysler Group and Mitsubishi Motors need each others help, especially in developing North American targeted vehicles. (Photo: Mitsubishi Motors North America)

in developing North American targeted vehicles. Chrysler needs the Japanese automaker's small and medium-car platforms for its upcoming Neon and Sebring replacements, and Mitsubishi wants to take advantage of Dodge's Dakota for its stylish sport truck that appeared in concept form earlier this year.

Other potential cooperative projects that have been bantered about the rumor mill include a Mitsubishi version of Chrysler's

Part of Mitsubishi's restructuring includes stylish new products like the Dodge Dakota-based sport truck. (Photo: Mitsubishi Motors North America)

famous minivan, which might be a long shot being that the domestic automaker guards the mid-van segment as sacred territory.

Recent comments supposedly made by executives in both camps have given cause for concern, however, raising questions as to whether the two automakers would be able to continue to work together in the aftermath of DaimlerChrysler pulling out of a proposed bailout that was due to take place earlier this year. Mitsubishi found financial aid elsewhere, and is now in the process of restructuring its business from the ground up. Part of this restructuring includes new products, something that if done correctly can completely turn an automaker around - look at Chrysler Group with its new 300 sedan and Dodge Magnum sport wagon, not to mention the popular new Durango, Dakota and Ram.