Japan`s top car manufacturer, Toyota Motor Corp. declined comment (Thursday 22/6/00) in local media reports that it has entered final stage talks with US giant General Motors to jointly develop a new Recreational Vehicle (RV).

Yomiuri Online reported that the two car manufacturers were to agree soon on developing and marketing this new RV in both North America and Japan.

A spokesperson for Toyota also declined comment on whether Toyota and GM were in talks in extending their co-operation to other business areas.

This joint RV venture, expected to be priced at less than $20,000 in the US and 2.1 million yen in Japan, is to be equipped with the `On-Star` satellite car navigation system, according to Yomiuri reports.