October 6, 2005
Toyota buys 8.7% stake in Fuji Heavy Industries, owner of Subaru, from General Motors
Detroit, Michigan – Automotive News reports that Toyota Motor Corporation will buy an 8.7 percent stake in Fuji Heavy Industries, which owns Subaru, from General Motors. GM, which owns 20.09 percent of Fuji, plans to sell its remaining 11.4 percent stake to raise cash.
Fuji Heavy Industries will end its joint-development project with GM’s Saab brand. GM currently sells the Saab 9-2X which is a lightly camouflaged version of the Subaru Impreza and WRX.