Usually working in the background, Dallara set about developing a new LMP900 car for the 2001 season. With the new car already on the drawing board, Chrysler stepped in and commissioned the car to be built and developed to hold the six-litre MOPAR V8. Although known internally as the Dallara SP1, the car was henceforth referred to as the Chrysler LMP and Dallara was allowed to move to the background once again.

The new prototype racer was a wholly conventional design built around a carbon-fibre composite monocoque. Double wishbone suspension with push-rod actuated springs and dampers were fitted on all four corners. The curvaceous carbon-fibre composite body featured a bulbous nose designed to divert air to the side-pods. Chrysler provided a six-litre OHV MOPAR V8 engine, which was rated at around 585 bhp and was mated to a XTrac six-speed sequential gearbox.

To run and develop the cars, Chrysler again called in the services of specialists Team Oreca, who also ran and built the works Vipers. A single Chrysler LMP debuted with little success at the Donington European Le Mans Series. For the all important 24 Hours of Le Mans, three cars were entered. The quickest of the trio started sixth and finished a commendable fourth overall, while the other two failed to finish.

Despite the fourth place finish at Le Mans, Chrysler ended their program shortly thereafter. This forced Dallara to once again look for a customer for the car. Before the end of the year, the first was found; the Doran Lista Racing team. Fitted with a more competitive Judd V10, the car debuted at the season ending Daytona 3 Hours. A gearbox issue ended the charge early but early in the next year, it was driven to the outright victory in the Daytona 24 Hours.