General Motors Co. confirmed Friday that the company and Isuzu Motors have agreed to end co-development of next-generation midsize pickups that would go on sale in GM’s global regions outside North America.
The two companies in 2014 inked the deal to co-develop the trucks for emerging markets. The carmakers previously worked together to develop two generations of pickups and have a long-standing relationship of joint efforts dating back more than 40 years. Other deals between the two companies — including a joint project struck last year that will allow GM to sell a medium-duty Chevrolet truck in the U.S. built by Isuzu — are not affected, a GM spokesman said.
“Both parties agree that due to unique requirements for each company, joint development of the next-generation midsize pickup truck for those markets is no longer the optimal model for this project,” GM said in a statement.
Isuzu could not immediately be reached for comment. Isuzu last week said it was entering a partnership with Mazda Motor Corp. for a pickup project. Isuzu will build trucks for Mazda based on Isuzu’s model.
GM said it was not leaving the midsize truck segment in emerging markets. A spokesman said GM has not said when current-generation production would end but he said it was not imminent. The automaker sells a separately designed midsize GMC Canyon and Chevrolet Colorado pickup in North America.
GM previously held a stake in Isuzu but sold its 7.9 percent holding in 2006 to raise about $300 million. GM has a 60 percent ownership stake in a joint venture with Isuzu called DMAX Ltd. in Moraine, Ohio. That company builds large diesel engines for heavy-duty trucks.