Now three years past its humbling 2009 restructuring, General Motors is once again looking at strengthening its strategic alliances with other automakers. Earlier this year, GM formalized a platform-sharing agreement with PSA Peugeot Citroen, and now comes word about reported talks planned with Japanese commercial vehicle maker Isuzu, according to a Reuters report.

Although Isuzu exited the U.S. passenger car and light-truck market in 2008, it remains a significant player in the commercial vehicle market, both in the United States and worldwide. The two companies are reportedly looking at a plant to jointly sell commercial vehicles in the Asian and Central and South American markets.

The deal reportedly involves GM taking a 10 percent stake in Isuzu, which would make it the largest percentage outside shareholder in the company, and would likely prompt Toyota to sell its 5.9 percent stake in the company, as well as put an end to talks between Isuzu and Volkswagen. Currently, Mitsubishi Corp. owns a 9.2 percent stake in Isuzu. VW and Isuzu currently have a pickup truck joint venture in Thailand, with Isuzu supplying VW with trucks in the Southeast Asian market.

The two companies will reportedly start negotiations in early May, and are working on arranging a meeting between Isuzu CEO Susumu Hosoi and GM CEO Dan Akerson.