Nissan has struck a deal with Chrysler to build it’s upcoming Hornet compact car in it’s Oppama plant in Japan. Eventually, future production will be moved to the company’s Mexico plant in Aguascalientes. The new venture will secure a already established small car manufacture to help Chrysler break into this new ever growing segment.

The new Hornet, due in 2010 as a 2011 model, will look a lot like the concept vehicle that was unveiled by Chrysler at the 2006 Geneva Auto Show. The production model should be built on the latest version of Renault-Nissan’s global B-platform. The platform already is used by established vehicles like the Nissan Cube and Renault Clio, so it should already be cleared for safety, and crash testing.

Chrysler and Nissan have already announced a joint vehicle development deal under which Chrysler will provide Nissan with a version of the full-size Dodge Ram pickup to replace the Nissan Titan in 2011. On the flip side, Nissan will supply Chrysler with a version of its Versa compact for sale in South America in 2009.

This kind of platform sharing is essential to Chrysler’s growth in the sub-compact market, but it also has many benefits for Nissan. By using Dodge’s new Ram platform for their upcoming new Titan full-size truck, Nissan is saving itself a bundle on development costs and R&D development. Expect this kind of “platform sharing to become commonplace in the upcoming years.