General Motors and Isuzu, the Japanese small truck and pickup truck maker, could rekindle their 35-year capital partnership which GM ended in 2006 when it faced bankruptcy, according to Japanese media reports.

Isuzu sources quoted by both the Jiji and Kyodo news services suggested that GM is looking to take a 10% stake in Isuzu. The deal could also include joint production and sales of commercial vehicles in south east Asia and the joint development of pickup trucks.

The move comes less than two months after a revitalised GM took an 8% stake in PSA Peugeot-Citroen with the aim of sharing purchasing and logistics as well as co-development of future models. 

GM said in a statement it wouldn’t comment on “rumour and speculation”, adding it was always talking to other OEMs on a range of issues.

Toyota took a 5.9% stake in Isuzu when GM pulled out in 2006; Isuzu’s largest shareholders are the Japanese trading houses Mitsubishi (9.2%) and Itochu (8%). Toyota and Isuzu planned to co-develop diesel engines but that has been put on hold. 

Isuzu is also negotiating a tie-up with Volkswagen, but reports suggested the companies are finding it difficult to reconcile differences.

Isuzu would benefit form GM’s hybrid technology and GM from Isuzu’s strength in south east Asia.