Japan’s top automaker Toyota Motor Corp has flatly denied it was forming tie-ups with US giant Ford Motor Co and Bayerische Motoren Werke AG (BMW) of Germany, Associated Free Press reports.

“There is no such thing at all,” company president Fujio Cho told a news conference, commenting on reports speculating about a capital tie-up between Toyota and Ford.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

On technological and other cooperation with Ford and other foreign rivals, Cho said: “I cannot rule out such a possibility in the future. But there is no specific discussion at present.”


A Toyota spokesman meanwhile denied a newspaper report that the company was planning to supply diesel engines for compact cars to BMW.


“At this moment Toyota has no such kind of plan,” public relations general manager Tetsuo Kitagawa told AFP. “We can’t comment on this speculative kind of story.”


The Asahi Shimbun reported on Saturday that Toyota planned to supply a new 1,400cc diesel engine to BMW in 2002.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The engine is currently being developed for Toyota’s popular compact passenger car known as the Vitz in Japan and the Yaris in Europe.


The tie-up with BMW underlined Toyota’s “multi-faceted” strategy involving cooperation with other automakers in specific areas, the daily said.


Toyota is engaged in joint development of environmentally sound technology with General Motors Corp. and is cooperating with BMW’s fierce rival Volkswagen AG on Japanese sales of Volkswagen models.


It also buys diesel engines from PSA Peugeot-Citroen of France for its small passenger cars.


Reports of a possible strategic tie-up with Ford surfaced, with Monday’s Asian Wall Street Journal adding that the companies were in early talks on cooperating over minicars.