GM, Toyota chiefs meet in Tokyo 'to discuss various topics'

[Ratko]

TOKYO (AFX) - General Motors Corp chairman Rick Wagoner and Toyota Motor Corp president Katsuaki Watanabe met in Tokyo today amid reports the two car giants are to reaffirm a tie-up in fuel cell development.

The two business leaders 'met in Tokyo for about one hour and discussed various topics,' Toyota said in a brief press release.

'The meeting has been arranged to allow Watanabe to introduce himself after his appointment on the occasion of chairman Wagoner's visit to Japan,' the statement added.

Watanabe became president of the world's No.2 carmaker in June.

Wagoner came to Tokyo on his way back from China where he inspected a GM factory.

Last month, GM announced that Toyota is to spend 315 mln usd to acquire GM's shareholdings in Fuji Heavy Industries Ltd, the maker of Japanese Subaru vehicles.

[ricers-shaft-b3]

the last time they met in june to discuus "various things" resulted in toyota buying subaru at a knockdown price

wonder whats for sale now? suzuki or isuzu?

[Bakemono]

http://www.nyse.com/interface/jsp/NH...sdowjones=true

General Motors Corp. (GM) and Toyota Motor Corp. ( 7203.TO) reaffirmed Wednesday that they will reinforce their cooperative relationship, Kyodo News reported, citing officials of the two automakers. The accord came during talks in Tokyo between GM Chairman Rick Wagoner and Toyota President Katsuaki Watanabe ahead of the expiration next March of the two companies' contract to conduct joint research on advanced technology such as fuel-cell vehicles, the report said. A Toyota executive said the meeting was held chiefly as "a courtesy call." But analysts speculated that the top executives of the world's No. 1 and No. 2 automakers may have discussed key issues, such as those that may lead to a future consolidation of the auto industry, in view of the fact that Toyota acquired GM's shareholdings in Fuji Heavy Industries Ltd. (7270.TO) for about Y35.4 billion after a meeting in May in Toyota, Aichi Prefecture, between Wagoner and Fujio Cho, Watanabe's predecessor, Kyodo reported. Toyota reportedly decided to buy Fuji shares from GM in another step to support the U.S. carmaker, which is struggling with sluggish sales. Toyota raised its vehicle prices in the U.S. market earlier this year in a move seen intended to help GM become more competitive.

Prior to his meeting with Watanabe, Wagoner held talks with top executives of Isuzu Motors Ltd. and Suzuki Motor Corp., in which GM has equity stakes, the report said.

Could it be that Toyota will buy up GM's shares of Isuzu and Suzuki? As far as Im concerned, the fewer Japanese companies that GM has it's claws in, the better
Cap'n

[drunken_panda]

The only problem if Toyota buys Isuzu and Suzuki is size. Its already nice that Toyota does not have a lot of model sharing, but if they buy up the other 2 companies, you start to wonder. Also Toyota is having a few teething problems on quaility being to big, two more companies would pose some other problems.

[TRDSienna]

I think it is to discuss about possible future joint-ventures. like the matrix/vibe deal.

[drunken_panda]

The matrix/vibe deal was a bad idea. I sat in a matrix once. It had the switch gear and headunit from GM and took away from the overall quaility. I got out of that car and sat in the Matrix next to it. Had the Toyota headunit and switch gear and had a much better feel to it.