Toyota and General Motors are expected to finalise a detailed plan before the year’s end to jointly develop a hybrid car, according to Toyota president Fujio Cho.

Speaking at a press conference in Tokyo, Mr. Cho said that there was no agreement as yet on the exact specifications for the hybrid vehicle, saying that a few differences have yet to be worked.

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Cho also revealed that the Japanese car maker was also talking to top Ford executives to explore areas of collaboration. He stressed that these negotiations were at a very early stage.


GM and Toyota signed an agreement back in 1999 to jointly develop hybrid, electric and fuel-cell cars.

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