Toyota Motor Corp. sets the records straight. They are offering to help provide hybrid technology to General Motors but not sell it. In short, the deal means that Toyota will help them develop hybrid technology and not spill the beans on their own.
Apparently this had to be done since a lot of people were thinking that Toyota will be selling its hybrid formula to the embattled US car manufacturer. Toyota may be losing but is far from coming close to being bankrupt compared to GM.
The Yomiuri Shimbun reported, without naming its sources, that Toyota would be ready to provide the technology if GM asks for it, even if the Detroit carmaker seeks bankruptcy protection.
But a Toyota official said the Japanese giant was “not considering it.”
(Source) Asia One
Tags: bankruptcy protection, car manufacturer, carmaker, General Motors, GM, hybrid technology, Toyota, toyota motor, toyota motor corp