NEW YORK (Kyodo) Top executives at Toyota are considering their own overture to General Motors to prevent rival Nissan from forging an alliance with the big U.S. automaker, BusinessWeek said Saturday on its Web site.
Citing sources close to Toyota Motor Corp., the U.S. business magazine said the automaker is considering various options and looking at different opportunities it could propose to GM.
The struggling U.S. auto giant, Nissan Motor Co. and French automaker Renault S.A. agreed Friday to take 90 days to study potential benefits of a three-way alliance.
“Toyota has no interest in seeing an alliance like this (linking Renault, Nissan and GM) take place,” the weekly quoted a Toyota executive as saying on condition of anonymity.
The report said there is not much possibility of Toyota and GM forging an alliance involving a capital tieup because, unlike other automakers, Toyota has avoided such deals.
“Given the companies’ history, it is possible that Toyota could make GM an offer of expanding joint ventures, and even sharing technology and vehicle development, without buying an equity stake,” BusinessWeek said.
Toyota has been a business partner with GM. They set up a joint assembly plant in 1984 in the U.S. and have cooperated on car technology.
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