Toyota president Fujio Cho was reported on Thursday to have affirmed a partnership with General Motors at a recent meeting with GM chief executive Rick Wagoner but denied a deal was coming soon to share hybrid technology.
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“It’s not possible,” Cho told reporters at a reception for auto officials in Tokyo, the Associated Press (AP) said.
Cho reportedly said GM and Toyota have been exchanging information about fuel cells, but they have not reached a point of developing technology together – future talks may produce results, he added.
The Associated Press said Japanese media reports have speculated that Toyota and GM may strike a deal on environmental technology, such as hybrids or fuel cells, as part of a 1999 pact the automakers have to work together on such technology.
AP said that Cho told reporters that Wagoner, who met with the Toyota head and other officials over dinner last weekend while visiting the Aichi World Expo in Japan, discussed the importance of GM and Toyota ties.
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By GlobalData“We agreed we must make sure this pipeline of partnership grows stronger, not weaker,” Cho reportedly said.
