(autoinsidernews) - Isuzu Motors is denying reports that it is planning to ask General Motors to pull out of its joint ventures that produce diesel engines and that new partner Toyota will replace the U.S. automaker. Toyota announced that it plans to buy 5.9 percent of Isuzu as part of a partnership to develop advanced diesel engines, reports Trend.
The Nihon Keizai Shimbun reported that Isuzu is planning to ask GM to sell the 60 percent stake it holds in Ohio-based venture DMAX Ltd. and Isuzu Motors Polska Sp. in Poland.
There is no discussion about this, Isuzu spokesman Kouitsu Mabuchi said.
Isuzu President Yoshinori Ida and GM CEO Rick Wagoner met on Wednesday as scheduled months in advance, Isuzu said, adding they confirmed their partnership would continue as planned. The paper said Ida would propose the plan to Wagoner at the meeting. Toyota is also denying the report.