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Chrysler in deal to source seats from India: report
MUMBAI (Reuters) - U.S. car maker Chrysler LLC's Indian unit has signed a 4 billion rupee ($101 million) contract with a New Delhi-based car seat maker to source seats for its Jeep Wrangler, an Indian newspaper reported on Sunday.
This was just the beginning of Chrysler's strategy to outsource automobile parts from Southeast Asia and negotiations were on for more such contracts, the Business Line paper said, citing an unnamed senior company official.
"We buy $40 billion worth of supplies each year. We would like to procure as much as possible from South-East Asia," the official said in the report.
The seats will be fitted in the Wrangler vehicles being made at Chrysler's Toledo unit in the United States, the report added.
Private equity firm Cerberus CBS.UL bought an 80 percent stake in Chrysler from Daimler (DAIGn.DE) last year.
(Reporting by Bharghavi Nagaraju; Editing by Alan Raybould)
($1=39.58 Indian Rupee)
