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AFP (12/17) reported, "Isuzu said on Dec. 16 it had shelved plans to jointly develop a clean diesel engine with Toyota." Both automakers "had planned to develop a 1,600cc aluminium-made diesel engine for small Toyota cars to be sold in Europe, but markets there have been engulfed in the global financial crisis. Production of the engine was due to start around 2012 at a new plant that an Isuzu subsidiary would build in the northern Japanese city of Tomakomai." AFP noted, "Toyota, which has a 5.9 percent stake in Isuzu, has formed a business tie-up in research and production with the truck maker." Additionally, "Isuzu is also reviewing investment plans, [a] spokesman said. Isuzu president Susumu Hosoi said the company intends to freeze some capital spending plans, including those in Saudi Arabia and Russia."