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Honda Won't Sell to Hybrid Rivals

September 11, 2004|From Bloomberg News

Honda Motor Co., one of only two automakers that sell vehicles powered by a combination of gasoline and electricity, said it would not compete with Toyota Motor Corp. in providing hybrid technology to other companies.

"We don't like to supply other automakers," Honda Chief Executive Takeo Fukui said Friday.

Honda, whose North American headquarters is in Torrance, will try to recoup its investment in the technology with the introduction of a version of the Accord sedan, its third hybrid model in five years.

Toyota has licensing agreements with Ford Motor Co. and Nissan Motor Co.

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