TOKYO - Isuzu Motors Ltd. and its former shareholder General Motors Co. say they plan to jointly develop new pickup truck models, reviving co-operation 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 co-operation.
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 per cent share of Isuzu in 1999 but dropped that share to 12 per cent in 2003. In 2006, GM sold its remaining 7.9 per cent share to two Japanese trading companies for $300 million.