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Toyota, Fuji Heavy to brief on alliance on Monday

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Toyota, Fuji Heavy to brief on alliance on Monday

Reuters / March 10, 2006 - 8:15 am

TOKYO -- Toyota Motor Corp. and its affiliate Fuji Heavy Industries Ltd. said on Friday that they would announce details regarding their business alliance on Monday, March 13, in Japan and the United States.

Toyota and Fuji Heavy, the maker of Subaru cars, have been exploring ways to cooperate in the areas of development and production since Toyota became Fuji Heavy's top shareholder in October after Fuji Heavy dissolved its capital alliance with General Motors.

Toyota now holds an 8.7 percent stake in Fuji Heavy.

The two firms in December agreed to make Toyota-brand cars at Subaru's factory in Lafayette, Ind., as the factory has been underused since the withdrawal of Fuji's former joint venture partner, Isuzu Motors Ltd.

Toyota President Katsuaki Watanabe and Fuji President Kyoji Takenaka will attend the briefing.

Link: http://www.autonews.com/apps/pbcs.dll/arti...G/60310002/1003

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That factory is just across town from me - this should be good news for the local economy! :) From what's been talked about before on this forum, it's expected to be supplemental Camry production.

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I believe they started forming this deal right after GM sold off their Sub stock.

BTW, it's announced:

http://www.forbes.com/technology/feeds/ap/.../ap2589927.html

Will be producing around 100K Camry's a year. The article has a mistake, though - they left out that the plant also produces the Tribeca.

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