August 1, 2005
GM/Toyota fuel cell talks stall
Koyodo, Japan – Progress on defining a joint venture between Toyota Motor and General Motors to develop fuel cell cars has stalled, due to the terms of sharing intellectual property rights and the results of joint research.
GM and Toyota have been exploring ways to pool their resources on fuel cell cars since May, when General Motors chairman Rick Wagoner visited outgoing Toyota president Fujio Cho. Katsuaki Watanabe, Toyota’s new president, has said that Toyota and GM should decide quickly on a proposed joint venture.