Toyota Motor has denied reports that it has been approached by General Motors for help combating its current business problems.
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The Kyodo news agency had reported that GM had asked its Japanese rival for support and had explored the possibility that its CEO Rick Wagoner meet Toyota’s management in Japan in the near future. Kyodo reported that Toyota had turned down the request.
However, Toyota was quoted today as saying there was no truth in the report.
GM meanwhile dismissed the story as “pure speculation”.
Kyodo reported that amongst the topics that may have been discussed by the two automakers was the possibility of an expanded business partnership, including the Japanese group manufacturing fuel-efficient compact cars for GM and providing hybrid-car technologies.
Kyodo did not say where it got its information.
