Toyota has offered to sell all of its Toyota Camry, Prius and Lexus vehicles at a cost of $20.4 billion to GM and Chrysler, the automaker announced Wednesday.GM also is offering to sell a range of vehicles at GM’s factory in Chattanooga, Tenn., and Toyota’s plant in Toledo, Ohio, GM said.
The agreement, which also includes incentives and incentives for new production, includes more than 30,000 U. S. jobs, the automakers said in a statement.
The deal is the first of its kind in the U.K., where GM currently has a plant, and it’s likely to attract more orders, GM chief financial officer Tom Holley said in the statement.GM shares rose 0.9% to $20,439.03.
The automakers have been engaged in negotiations for nearly a year over a new U.N. pact to boost U. K. auto manufacturing, but that accord fell apart after Britain voted to leave the bloc last month.GM and GMC have been locked in a protracted dispute over whether the company should be allowed to continue exporting cars to countries such as the United States.GM said it is in talks with China over a U.A.E. auto deal.
China has rejected the GMC proposal.
In a statement, GM’s chief financial office said the automakers have “taken steps to ensure that GM is in a position to make all of our vehicles globally competitive.”GMC said it has “re-opened the GMAC program to the public,” and GM will also offer to sell cars to the U, K. and L.E.-China markets through the new program.