GM sells some FHI shares to Toyota
 

Toyota is purchasing enough shares to effectively own 8.7% of FHI from GM. The other 11% worth of stock that GM holds is going to be sold either back to FHI or on the open marke.

A few months back, Toyota and FHI signed a deal for FHI to use Toyota patents for Hybrid cars, and Toyota to use FHI patents for some new kick-ass batteries (supposedly recharge faster, hold a stronger charge, and last ~15 years in automotive applications).

No new Saabarus. No more Chevy Forrester. No more Subaru Traviq (rebadged Opel sold in Japan). The Justy will probably be either scratched or brought back in house.

More details:
http://news.yahoo.com/s/ap/20051005/...e/japan_toyota

FHI + Toyota > FHI + GM

Now, if only Fuji would buy back the remaining 11% to prevent Toyota from having a majority share in Subaru, then we're all set. I wasn't so nervous when it was GM w/ 20% of Subaru, since GM and Subaru's markets don't collide except in the US. However, Toyota and Subaru sell in all the same markets worldwide, and even though Subaru isn't a threat to Toyota now, I'd hate to see them absorbed by Toyota to limit competition.

The technology deals between the two sound great as well. Think Toyota Prius and Hybrid Legacy that get 60-100 mph and won't need their batts replaced every 5-7 years. :D

I think they had to keep it under 10% for Japanese anit-trust laws. So, that is where it will stay most likely (until the full buyout occurs, that is).

I like the part in (another) article that says "Toyota and Subaru buyers don't overlap"

Someone should have told me that... :lol:

81 Toyota Truck
89 Toyota Truck
92 Toyota Corolla alltrac
94 Subaru Legacy
93 Toyota Corolla (fwd :()
02 Subaru Legacy
05 Subaru Legacy

Subaru + Nissan = Oh noes!!!

I think that Toyota ownership is way better than Gm ownership. Very cool.