Toyota Won't Bar GM, Renault-Nissan Union
By YURI KAGEYAMA (AP Business Writer)
From Associated Press
July 20, 2006 6:13 AM EDT
TOKYO - Toyota has no interest in blocking or joining the proposed tie-up between General Motors and the Renault-Nissan alliance, the Japanese automaker's president said Thursday.
The remarks from Toyota Motor Corp. President Katsuaki Watanabe come at a time when U.S. automaker General Motors Corp. is in talks about a possible partnership with an alliance between Renault SA of France and Nissan Motor Co.
Speculation has been growing that Toyota may be considering proposing to General Motors, the world's biggest automaker, an alternative option for a tie-up, perhaps to block Japanese rival Nissan's growth ambitions.
Watanabe said he didn't want to comment about talks among other automakers but denied Toyota was interested in joining the proposed mega-alliance.
"We are not thinking about participating," he told reporters at a Tokyo hotel when asked about whether Toyota may either join or block the talks among GM, Renault and Nissan.
Watanabe also bowed in apology at the news conference to express regrets - but not acknowledging wrongdoing - for causing troubles due to a criminal investigation linked to a recall case in 2004.
"I take this seriously and see it as a crisis," he said. "I want to apologize deeply for the troubles we have caused."
Prosecutors are investigating whether Toyota intentionally hid defects
that may have caused a head-on collision in 2004 that injured five people.
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