General Motors Corp. said it will maintain its business partnership with Isuzu Motors Ltd. even after it sells its 7.9% stake in the Japanese company. GM expects to gain $300 million from the divesture to fund its North American restructuring.
GM-Isuzu joint ventures include:
-- Development and manufacturing of diesel engines for pickup trucks in the U.S.
-- Commercial vehicle design, engineering and manufacturing.
-- Ddevelopment and manufacturing of diesel engines for autos in Europe.
-- Pickup truck assembly and distribution in Asia Pacific, Latin America, Africa, and Middle East markets.
"GM's 35-year partnership with Isuzu has been strong, and we look forward to our continued partnership," states GM chairman & CEO Rick Wagoner.