The Prius That Shook.. - VFAQ Prius Site

facility with General Motors (GM) in the United States for
more than ten years, and is cooperating with GM in the
electricity supply method for EV and in the establishment of
a uniform standard for automotive multimedia. At the
same time, there are constant rumors of Toyota signing
a large-scale partnership with GM in environmental
technology, such as the FCEV. Also, there is still a
possibility of Toyota and GM cooperating with VW to create
a trilateral union of the three regions.
On January 8th , 1999, the Toyota organization was
surprised during its New Year's celebration when
President Okuda was unofficially selected as the
Chairman of the Japan Federation of Employers
Associations (Nikkeiren). Nobody in the company had
anticipated this development.
That evening, Okuda invited inside 12 journalists who
had been waiting for him at his home on a hill in Okazaki
City, Aichi Prefecture. He told them of his intention to
retire as President of Toyota, stating,
"I consider my course of action within the context of
larger organizational reforms at Toyota, such as the potential
institution of a holding company. Since I have advocated a
more youthful Board for the company, it is not right for me to
stay on as President for three or four terms.
Okuda, however, was not retiring from the forefront of
Toyota's management anytime soon. Toyota is considering
385