A day after truck and diesel engine specialist Isuzu Motors said it would take the lead role in a small diesel engine development joint venture with Toyota, Isuzu and rival truck maker Hino Motors confirmed they continue to discuss R&D cooperation but have not reached an agreement.
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“As our president and Isuzu’s president have repeatedly stated, it is true that we are studying the possibility of working closely in development to reduce development costs, but there is nothing that we can disclose now,” a Hino spokesman, requesting anonymity, said, according to a Thomson Financial/AFX News report.
An Isuzu spokesman added that the two companies are exchanging information and confirmed no decision has been made.
According to the news agencies, the pair were responding to an earlier report in Japan’s Nikkei business newspaper that the truck makers would cooperate in developing and producing diesel engines that meet stricter emissions guidelines.
The companies are considering working together in other areas such as vehicle assembly and may consider integration in the future, the Nikkei reportedly said, but without naming sources.
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By GlobalDataThey denied that they are considering integrating their operations, the report added.
‘With regard to the reported consolidation of operations, it is groundless,’ the Hino spokesman told Thomson Financial.
The Nikkei had said the two companies would jointly develop three-litre and 10-litre diesel [truck] engines that comply with new [Japanese domestic] emissions regulations due to be introduced in the fiscal year ending March 2010. The regulations require that nitrogen oxide and particulate matter emissions be halved from current levels.
Toyota Motor owns 50.1% of Hino and 5.9% of Isuzu, the report added.
Toyota and Isuzu on Thursday announced they would collaborate to develop a new, all-alloy 1.6-litre diesel for European markets, due in production by 2012, with Isuzu taking the lead role.
