P.M. BRIEFING : Toyota, GM Negotiating Truck Deal

Japan’s top auto maker, Toyota Motor Corp., said today that it is negotiating with General Motors Corp. for production of trucks at their joint passenger car production venture in Fremont, Calif.

Tatsuro Toyoda, vice president of the Nagoya-based company, said the talks have been going on for some time, but no agreement has been reached. “The negotiations are in the final stage, but the letter of understanding has not been signed yet,” Toyoda said. He made the remark in connection with recent reports that GM Chairman Roger Smith said the two companies have already reached agreement on the truck project.