Isuzu Motors and Toyota Motor Corporation have signed a memorandum of understanding where Toyota will hold a 5.9% stake in the truck and diesel engine specialist and the two will collaborate on research and development and production.
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Isuzu will lead a focus on research and development and production of small diesel engines, joint research and development of emission-control technologies and emission-control devices for diesel engines. Meanwhile, Toyota will lead the focus on environmental technologies, including basic engine and other technologies and technologies related to alternative fuels.
“Isuzu and TMC have come to [the] view that, while they respect each other’s independency in management, each side could prosper further by strengthening their business relationship, as global competition intensifies,” the firms said in a joint statement.
Toyota will buy 100m Isuzu shares – 60m from Mitsubishi Corporation and 40m from Itochu Corp.
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