General Motors‘ partnerships with Isuzu and Suzuki remain solid despite GM’s decision to end its alliance with Subaru maker Fuji Heavy Industries, a senior GM executive reportedly said on Monday.
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Larry Burns, vice president overseeing research and development at General Motors Corp., acknowledged that hopes for “synergies,” or advantages from a partnership, with Fuji failed to bear fruit, according to the Associated Press (AP).
But Detroit-based GM’s other Japan alliances – with truck specialist Isuzu Motors and small car expert Suzuki Motor – remain strong, both as ways to share technology and to sell cars in Japan, Burns said during a trip to Japan to speak at an international motor industry conference and attend the Tokyo show.
AP noted that, earlier this month, GM ended its partnership with Fuji Heavy, deciding to sell its entire 20% stake in Fuji. Toyota Motor agreed to buy an 8.7% stake in Fuji Heavy for 35.4 billion yen, or about US$315 million (euro257 million). There has been some speculation that GM may also decide to drop its other Japan alliances.
“Those are very strong relationships,” Burns said in an interview with the news agency at GM’s Tokyo office, adding that Isuzu is important in diesel technology, and GM has a fuel-cell technology partnership with Suzuki.
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By GlobalDataBurns reportedly denied Toyota’s purchase of a part of GM’s shares in Fuji Heavy was a helpful gesture to GM. Some media reports have said the move could be interpreted as Toyota indirectly giving cash to money-losing GM.
“Toyota is a company that competes ruthlessly around the world as does General Motors,” Burns told the Associated Press. “None of us are in the business of bailing each other out.”
Burns reportedly reiterated that GM believes that currency manipulation by Japan to boost the yen is giving Japanese automakers an unfair edge in the US auto market.
