GM, Isuzu Drop Plans for Jointly Developed Pickup Truck

General Motors Co. and Isuzu Motors Ltd. say they have abandoned plans to co-develop a pickup truck for emerging markets after failing to agree on the basic concept for the vehicle.

Isuzu favored a basic commercial-type truck, and GM envisioned a more upscale model that would be used mainly as a passenger vehicle, according to Bloomberg News.

The two companies have partnered on vehicle programs for decades, including two previous pickup truck programs. They announced the now-canceled third project two years ago. At the time, they described a midsize vehicle that would be manufactured in southeast Asia, branded by both carmakers and sold in multiple markets outside North America.

GM and Isuzu ended a capital tie-up in 2006 when GM disposed of its remaining investment in Isuzu. But the Japanese company tells Bloomberg it continues to regard GM as a key partner, and the two manufacturers continue to collaborate on commercial trucks for the U.S. market.