Toyota chief voices readiness to set up fuel cell venture with GM

NAGOYA July 12, 2005; Japan Today reported that Toyota Motor Corp. President Katsuaki Watanabe suggested Monday that Toyota may decide, possibly in August, to set up a joint venture with General Motors Corp. to expedite technological innovations for fuel cell cars.

"It is better for us to make a decision speedily," Watanabe said of a proposal to form the venture to promote the innovations in fuel-cell and other technologies to make automobiles more environmentally friendly. (Kyodo News)