TOKYO -- Toyota Motor Corp. plans to outsource the full redesign of an existing Toyota model to Fuji Heavy Industries Ltd., the maker of Subaru cars, the Nihon Keizai business daily reported on Wednesday. The move comes as the world's second-largest automaker faces severe personnel shortages amid rapid expansion of its business, the newspaper said.
The deal would also allow Fuji Heavy, now owned 8.7 percent by Toyota, to make better use of resources after it dissolved its capital ties with General Motors last month, the report said.
The vehicle to be remodeled by Fuji Heavy has yet to be decided, but a sporty subcompact is a likely candidate, it added.
A Toyota spokeswoman said Toyota and Fuji Heavy are exploring cooperation in development and production, but added that no details had been decided yet.