Toyota lifts stake in Hino
TOKYO - Toyota Motor Corp. will raise its stake in its truck-making affiliate Hino Motors Ltd. from 20.1 percent to a controlling 33.8 percent March 29. The move was widely expected. For nearly two years, Toyota Chairman Hiroshi Okuda has talked about taking a controlling share of Hino, just as he did of minivehicle affiliate Daihatsu Motor Co. Toyota owns 51 percent of Daihatsu, up from less than 30 percent when Okuda became president of Toyota in June 1995.
PATHFINDER IS $28,169
LOS ANGELES - Nissan's 2001 Pathfinder sport-utility goes on sale Wednesday, March 15, with prices unchanged from 2000 on a comparably equipped basis. The base XE model has added a $1,250 option package as standard equipment, and the sticker has been boosted by that amount. The SE and LE models are unchanged. Pathfinder prices range from $28,169 to $31,819, including a $520 destination charge.
BALLARD: HIGHER LOSSES
VANCOUVER, British Columbia - Despite higher revenues from its automotive and stationary power generation divisions, fuel cell maker Ballard Power Systems reported its losses more than doubled, to $75.2 million Canadian ($53.7 million U.S. at current exchange rates), in calendar year 1999. Ballard Chairman Firoz Rasul attributed the higher loss to more spending on research and development. Revenue increased 32 percent to $33.2 million Canadian ($23.7 million U.S.) The increase stemmed in part from orders for fuel cells from Honda Motor Co. Ltd., Hyundai Motor Co. and the DaimlerChrysler fuel cell subsidiary Xcellsis.