mikeyb
04-11-2008, 09:48 AM
TOKYO — Japanese automakers Toyota, Daihatsu and Subaru parent, Fuji Heavy Industries, announced they have joined forces to develop new vehicles, including a small rear-drive sports car that Subaru will sell in the U.S., and supply each other with cars.
Subaru of America spokesperson Michael McHale confirmed the automaker would sell the compact rear-drive sports car in the U.S. in 2011. The car "is envisioned to offer a new fun-to-drive experience" based on an all-new vehicle platform and built at Fuji's Gunma, Japan, plant, according to the press release jointly released by the three companies. The car will be powered by the newest version of Subaru's famous horizontally opposed boxer engine.
The press release confirmed Toyota also will sell the small sports car, but a spokesperson for the company in Detroit did not know if that car would come to the U.S.
As part of the deal announced at a press briefing in Tokyo Thursday, Toyota doubles its stake in Fuji Heavy Industries to 16.5 percent from the 8.7 percent it bought in 2005 after Fuji's abrupt split with General Motors. Toyota is paying about $300 million for the additional 61 million shares. Toyota executives told reporters it could eventually increase its stake even further.
Other product actions called for by the agreement includes calls Toyota providing Fuji with a compact car and Daihatsu supplying Fuji with mini vehicles as well as a version of the Daihatsu Coo compact car.
- insideline
Subaru of America spokesperson Michael McHale confirmed the automaker would sell the compact rear-drive sports car in the U.S. in 2011. The car "is envisioned to offer a new fun-to-drive experience" based on an all-new vehicle platform and built at Fuji's Gunma, Japan, plant, according to the press release jointly released by the three companies. The car will be powered by the newest version of Subaru's famous horizontally opposed boxer engine.
The press release confirmed Toyota also will sell the small sports car, but a spokesperson for the company in Detroit did not know if that car would come to the U.S.
As part of the deal announced at a press briefing in Tokyo Thursday, Toyota doubles its stake in Fuji Heavy Industries to 16.5 percent from the 8.7 percent it bought in 2005 after Fuji's abrupt split with General Motors. Toyota is paying about $300 million for the additional 61 million shares. Toyota executives told reporters it could eventually increase its stake even further.
Other product actions called for by the agreement includes calls Toyota providing Fuji with a compact car and Daihatsu supplying Fuji with mini vehicles as well as a version of the Daihatsu Coo compact car.
- insideline