According to published reports, Yuzo Murata, head of Mitsubishi's truck division, said there have been no change to the company's plans to spin the truck unit off by April 2000, and for Volvo to take a 19.9 percent stake in the new company. He made the remarks at the Tokyo Motor Show for commercial vehicles yesterday.
Mitsubishi is in the awkward position of being allied to two rival manufacturers -- DaimlerChrysler, its dominant partner, in light vehicles and Volvo in trucks and buses, reports said. DaimlerChrysler also owns the Freightliner commercial vehicle company.
DaimlerChrysler, which owns 34 percent of Mitsubishi, giving it veto power over boardroom decisions, is widely seen as eager for Mitsubishi to break off its ties with Volvo, a pact sealed before its March agreement with the German-American auto giant.