General Motors CEO Rick Wagoner and Toyota Motor Corp. President Fujio Cho were scheduled to get together last weekend in Japan when Wagoner visited the 2005 World Expo near Toyota headquarters. But was there more on the agenda than an exchange of pleasantries?
U.S. and Japanese media reports said the auto chiefs might talk about working together on hybrids and fuel cells. Speculation was that ailing GM could speed up its introduction of hybrid vehicles by tapping into Toyota's highly regarded technology.
Spokespeople at both automakers played down the talk. Late last year, GM and DaimlerChrysler signed a deal to work together on a hybrid powertrain.
GM and Toyota have had an agreement since 1999 to consult with each other on the development of fuel cells, although no joint work takes place.