The deal has been in the air for some time now, but today notice came that Chrysler and the Chinese automaker Chery have officially signed a cooperative agreement for the manufacturing of small cars in the NAFTA, European and possibly other regions. The Chinese government supervised the shaking of hands and has given its approval. Chrysler's CEO Tom LaSorda and Chery Chairman and President Yin Tongyue are both very optimistic about the future. LaSorda was very impressed with Chery's manufacturing plant which rivals most Western European plants, while Yin sees a win-win situation and is keen to reach a global market. No official word on which models will be made but they will be based off a new small-car platform, possibly the Dodge Hornet concept (debuted at 2006 Geneva Motor Show) is a nominee for this.