Toyota: No GM Hybrid Deal In The Works

TOKYO (AP) -- Toyota denied a Japanese media report Monday that it was studying a possible deal to offer its hybrid technology to General Motors Corp. if the U.S. automaker expresses any interest.

The Yomiuri, Japan's largest newspaper, said Toyota was looking into the possibility of offering its hybrid technology to GM, without citing sources, as is common in Japan. Toyota sees it as an opportunity to make its hybrid technology more widespread, the report said.

Toyota -- maker of the Prius, the world's top-selling hybrid -- denied it was now considering such a deal but said it has a longtime stance of being open to deals with other automakers to share its hybrid technology.

Toyota already sells its hybrid technology to Nissan Motor Co., Japan's No. 3 automaker, for vehicles Nissan sells in the U.S.

Nissan does not yet sell vehicles packed with its own hybrid systems, although it is working on such models.

Detroit-based GM has been tackling major restructuring, and borrowed an additional $4 billion from the U.S. government Friday on top of $15.4 billion previously received. Adding fuel-efficient models to its products is considered crucial to a turnaround.

It faces a June 1 government-imposed deadline to finish restructuring or be forced into bankruptcy court.