GM CEO heading to Japan to talk with Toyota, expanding business partnership
by Damon Lavrinc on Oct 29th 2008 at 2:55PM 
Click above to enlarge the Creation of Wagoner from our friends at Motive
According to a report by Japan's Kyodo News, General Motors' chief executive and chairman Rick Wagoner is considering visiting Toyota in Japan to discuss a myriad of issues, ranging from funding to parts sharing.
In typical fashion (of late), the story cites unnamed sources saying Toyota is "expected to consider quick fixes for the cash-strapped GM, including buying up its assets and helping secure sufficient business funds." The talks are also said to include a partnership that would license Toyota's hybrid technology for use in GM products, along with ToMoCo building fuel-efficient, compact cars for the General.
We're suitably skeptical about any kind of partnership between the world's two automotive giants, particular since no one from Toyota or GM was willing to comment for the story. More to come... or not. Watch this space.
[Source: Reuters]
Get a WordPress.com Blog
Reader Comments (Page 1 of 2)
meshies 3:02PM (10/29/2008)
I like.
Reply
Lad 8:40PM (10/29/2008)
Sorry, no like! I don't like this at all because it's another indication that the American economy and our largest auto companies are in the dumper.
Nightcrawler 3:10PM (10/29/2008)
Why would it be in Toyota's interest to "consider quick fixes for the cash-strapped GM"? I'd think what was bad for GM would be good for Toyota, because they'd be well positioned to pick up any sales GM lost.
The two do already cooperate on the NUMMI plant in California, where Corollas and Vibes are made, so there is some past between the two.
Reply
hypermiler 3:29PM (10/29/2008)
Toyota gets blamed if GM goes bankrupt.
It is in Toyota's interest to keep GM alive to continue doing business as is in the US.
info2x 4:03PM (10/29/2008)
GM and Toyota share a lot of suppliers in the US, these suppliers depend more on GM for business than Toyota, if GM falls they fall (or jack prices so they don't fall) thus causing problems for Toyota
dan spalinger 3:02PM (10/29/2008)
This is worse than Jesse Jackson going around and blackmailing people...Guess GM decided to take Toyota up on its statement that it believes that a healthy GM/Ford/Chrysler are important to the world auto industry...now they get to prove it....with cash...
Reply
Dr Omar Bin Sulaiman 11:42AM (11/25/2008)
Dear Valued Partner,
I wish to invite you to participate as broker/agent to DIFC
individualised equity management programme.
Dubai International Finance Centre(DIFC) web site www.difc.ae is the largest finance centre in the Middle East.With over £5 trillion private and corporate investment portfolios.We are privately looking for fiduciary agents and management experts who will be willing to act as portfolio
holders and administrators.We currently have a back-log of an Excess Maximum Return Capital Profit (EMRCP) of an average of 1.2% on each private investment and corporate portfolio under our administration and control. And we wish to re-invest this fund by putting it into the management of private businessmen and corporations with good business
ideas that can generate atleast 10% ROI per annum over maximum of 5years duration.The fund will be disbursed based on a clear loan of 4.5% interest rate per annum for 5 years renewable tenure.
All sign-up contracts,briefings and investment portfolio management files will be handled in Dubai,United Arab Emirates.
For further details please contact me directly for more information...
Email - binsulaiman.dr.omar74@gmail.com
Thank you.
Dr Omar Bin Sulaiman
Director, Dubai International Financial Centre
http://www.difc.ae/press_centre/media_relations/omar_bio/
my photo graph http://www.difc.ae/press_centre/media_relations/omar_bio/images/DrOmar_photo.jpg
Torrent 3:04PM (10/29/2008)
This could be interesting...
Reply
Kitko 3:04PM (10/29/2008)
Following yesterday's story about VW being for a few glorious moments the largest company in the world, ANYTING is possible these days. Pigs could fly... with or without a lipstick....
Reply
jasbra 3:07PM (10/29/2008)
"We're suitably skeptical about any kind of partnership between the world's two automotive giants..."
Ummm - Toyota Matrix/Pontiac Matrix? Cavaliers being badged as Toyotas and sold in Japan? This wouldn't be the first collaboration between Toyota and GM, granted something on a bigger scale could be coming.
Reply
jasbra 3:09PM (10/29/2008)
Pontiac Matrix, rather. See, their so similar I get them confused. :)
Assass1n 3:23PM (10/29/2008)
fail, twice- Pontiac Vibe
martytheboy 3:48PM (10/29/2008)
LOL!
B-NOIT 3:06PM (10/29/2008)
I'm willing to bet that in the next few weeks we'll see GM, Chrysler, Toyota, and Renault-Nissan all merge into one super-automaker, then all split up again just for the hell of it.
Or that's what it's looking like, anyway.
But seriously, is GM really that desperate? Throwing away all the advancements in hybrid technology they've spent so much money on to just go ahead and buy Toyota's? Granted, Toyota's green tech (and reputation) is superior at this point, but why wouldn't the General just focus on its Volt and extend that technology to all its other products? GM would probably get more out of further developing its current technology to the point where OTHER automakers would want to buy it from them - not the other way around.
Just my two cents, and feel free to disagree with me. I know the times are hard, but this seems to be backwards thinking to me.
Reply
The Luigiian 4:19PM (10/29/2008)
"I'm willing to bet that in the next few weeks we'll see GM, Chrysler, Toyota, and Renault-Nissan all merge into one super-automaker, then all split up again just for the hell of it."
I want to see this happen, just so I can laugh at all parties afterward.
Ford would kick all their asses if that would happen.
Tacid 3:16PM (10/29/2008)
It seems like GM is incredibly desparate, they're probably exploring every action before they are either bailed out or go bankrupt. Toyota probably wouldn't give them anything which they could make money off of. It might hold them over and be no more extensive than NUMMI. The market for new cars is down right now for everyone and together with the fact that they really only have one mainstream car (mailbu) of decent quality. They are screwed. They have tons of other decent product (silverado, corvette, cts) but they don't have good small cars on the market now, which is what the regular consumer is buying. I hope they make it thur, because if they don't a lot of people are going to lose good jobs.
Reply
Purifoy 3:35PM (10/29/2008)
LOL! Great artwork! I love it!
Reply
Mi key 3:44PM (10/29/2008)
Is that a small hummer in Wagoners lap?
GM & Toyota have had some joint partnership since the Geo brand came and went.
Reply
Jay 3:47PM (10/29/2008)
Some of you people just get diarrhea of the brain when it comes to reports like these, even when the sources are unnamed. Anyone with a grain of sense can tell you "unnamed sources" is Latin for "I made this s##t up!"
Reply
Peter 3:57PM (10/29/2008)
good photoshop - someone has WAAAAAY too much time on their hand.....
Reply