Friday, December 25, 2009

Venezuela's Chavez Threatens to Oust Toyota

http://www.cnbc.com/id/34589578

The fiery socialist, in a speech late on Wednesday, also said he would not hesitate to expel and expropriate plants from other Asian and U.S. automobile companies operating in Venezuela if they failed to share technology with locals.


During a decade in power, Chavez has nationalized large swathes of the Venezuela economy -- including the oil and power sectors -- as part of his "21st century revolution" but has so far left car manufacturing relatively untouched.

Following Chavez's speech, Toyota has asked the Japanese government to verify the true intentions of his remarks as he has not contacted the company on the issue, Toyota's Tokyo-based spokesman Yuta Kaga said on Friday.

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