TOKYO, May 25 – Japan\’s Toyota Motor Corp. on Monday denied a report that it is considering offering its hybrid vehicle technology to struggling US giant General Motors.
The Yomiuri Shimbun reported, without naming its sources, that Toyota would be ready to provide the technology if GM asks for it, even if the Detroit carmaker seeks bankruptcy protection.
But a Toyota official said the Japanese giant was "not considering it."
GM is working against a June 1 deadline to convince the US Treasury that it can achieve long-term viability or it could be forced to follow Chrysler into bankruptcy protection.
The Yomiuri said Toyota may provide GM with patented technology that is used in the Prius and some of its other vehicles to increase fuel economy by controlling the movement of the engine and the motor.
Toyota\’s indirect support for GM\’s reconstruction would benefit the Japanese firm as its hybrid technology would in effect become the de facto world standard, the report said.
Toyota, a pioneer in petrol-electric hybrids, has no capital ties with GM but the two companies collaborate in some areas of manufacturing, such as joint production of small cars in the United States.