Toyota to Continue Joint Venture with GM

Toyota and GM set up the joint venture, New United Motor Manufacturing Inc., on an equal basis in 1984.

Toyota said on June 1 it will continue its joint venture with General Motors in the California.

"Toyota for its part hopes to continue (the joint venture) firmly," Toyota Motor president Katsuaki Watanabe said. "The GM side also has the intention of continuing it because it is a good factory."

Toyota and GM set up the joint venture, New United Motor Manufacturing Inc., on an equal basis in 1984.

"It is important that GM moves on to rehabilitate itself as soon as possible. That will lead to the development of the auto industry as a whole," Watanabe said.

In January 2009, Toyota claimed the crown of world's biggest automaker from GM after selling 8.97 million vehicles in 2008. GM's global sales fell in 2008 to 8.35 million vehicles from 9.37 milllion in 2007.

Asked if Toyota has any plans to assist in GM's rehabilitation, the Toyota head said, "We have yet to know GM's rehabilitation plan in full. But if it comes out, we want to study it closely."

Copyright Agence France-Presse, 2009

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish