Tadaaki Jagawa, a Toyota executive vice president, said the number one Japanese automaker "received an invitation" from Ford to join the Ford Internet-based marketplace, tentatively called AutoX-change, where automakers and their suppliers hope to do business more efficiently and cut costs. Ford and GM are in a race to build the largest online marketplace to achieve greater economies of scale, and both are trying to woo other automakers. The two companies have argued that creating a marketplace in which hundreds of billions of dollars in goods and services are traded would give their suppliers access to more business globally, allowing suppliers and manufacturers to slash costs.