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Mon May 25, 2009
Toyota denies report on possible GM hybrid deal
Tokyo, Japan – TOKYO (AP) - Toyota is denying a Japanese media report that it is studying a possible deal to offer its hybrid technology to General Motors Corp. if the Detroit automaker expresses any interest.
The Yomiuri, Japan's largest newspaper, says Toyota is looking into the possibility of offering its hybrid technology to GM. The report says Toyota sees it as an opportunity to make its hybrid technology more widespread.
Toyota is the maker of the Prius, the world's top-selling hybrid.
The company denies it now is considering such a deal but says it has a long-time stance of being open to deals with other automakers to share its hybrid technology.
Toyota already sells its hybrid technology to Nissan Motor Co., Japan's No. 3 automaker, for vehicles Nissan sells in the U.S.