Toyota
Motors Corp has said that it will not form any alliances involving capital tie-ups
in the next few years, and instead will cope with the need for new technology
through technological cooperation with other car makers, according to a report
on the Dow Jones Newswire.
The Dow Jones report quotes Toyota Motor President Fujio Cho speaking at the
Nikkei Business International Automotive Conference, as saying, "For at
least the next few years of my time (at the company), Toyota will form no capital
alliances."
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Against a burgeoning trend over the past ten years, Toyota has eschewed capital
tie-ups with other makers, preferring to work selectively with other makers
on certain projects. Earlier this year, Toyota reached a deal with PSA Peugeot-Citroen
to make small cars in Europe. The company also has a tie-up with GM in fuel-cell
engine development.
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