Toyota to take a stake in Isuzu for engine and emissions collaboration
It seems as though most of the industry can't help but see an impending omen in the announcement. Just seven months ago, GM sold off the entirety of its stake (7.9 percent) in Isuzu in an effort to focus on falling profits in North America. And now, as Toyota makes one of GM's old alliances its own, the Japanese giant also gears up in an attempt to overtake GM as the world's number one automaker.
There's currently no word on the price of the deal, but it should hover somewhere around $354 million. "You have my word on it."
[Source: Associated Press via International Herald Tribune]
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