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Ford, Toyota chiefs meet

DETROIT, Dec. 26 (UPI) -- Ford Motor Co.'s new chief executive met with Toyota Motor Co.'s chairman in Tokyo to discuss hybrid cars and other issues, it was reported Tuesday.

Japanese media reports say Alan R. Mulally and Fujio Cho discussed development of hybrid-electric and hydrogen powered cars and ways that Toyota could help Ford improve its manufacturing efficiency.

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The Ford and Toyota executives are not believed to have discussed joint purchasing or car-production ideas when they met last week, The New York Times said.

Such arrangements were the subject of General Motors' talks with Renault and Nissan this summer and fall. Those talks ended in October without an agreement.

Ford is mired in one of the worst financial crises in its history, while Toyota -- the world's leader in hybrid-electric cars -- is in its strongest position since it was founded 70 years ago.

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