Chrysler has closed a five-year deal to sell a rebadged version of the Mitsubishi compact sedan in Mexico, an agreement that marks the first time in decades that the Japanese automaker will give cars to Chrysler for rebadging.

The deal is limited to Mexico and the companies are not currently planning to expand it to other markets, said Mitsubishi CEO Osamu Masuko, according to Reuters.

The new agreement is intended to boost production levels and mitigate disappointment at Mitsubishi's Thailand production base.

"Our Thai business has not necessarily gone the way we had hoped for due to political and economic conditions, but by sending these vehicles to Mexico, we can maintain production levels," said Masuko, as quoted by Reuters.

Distributing Mitsubishi vehicles since 2003, Chrysler de Mexico doesn't have to pay tariffs to import cars from Thailand.

The Chrysler de Mexico agreement is hoped to sell at least 10,000 rebadged Attrage sedans annually, Masuko said. The rebadged compact will probably sell under the Chrysler Dodge brand.

The Attrage is the sedan version of the Mirage hatchback sold in the U.S., according to Automotive News.

Mitsubishi's Thailand production has been hit by both political crisis and time running out on a subsidy that encouraged first-time car buyers.

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