TOKYO (AP) — Isuzu Motors Ltd. and its former shareholder General Motors Co. say they plan to jointly develop new pickup truck models, reviving cooperation with an eye to fast-growing emerging markets.
Isuzu and GM issued statements Thursday saying they had agreed to pursue joint development of pickup trucks. They gave no details about the nature of the cooperation.
Isuzu, a mid-sized automaker specializing in small trucks, commercial vehicles and diesel engines, produces pickup trucks in Thailand and is relatively strong in Southeast Asia.
GM and Isuzu first formed an alliance in 1971. GM acquired a 49 percent share of Isuzu in 1999 but dropped that share to 12 percent in 2003. In 2006, GM sold its remaining 7.9 percent share to two Japanese trading companies for $300 million.