General Motors Corp. (GM) announced Tuesday (January 6) that it has canceled plans to build the 50 Cent sponsored Pontiac G8 sport truck, scheduled to go on sale this year.

According to the Automotive News, the decision to scrap the two-door vehicle with a six-foot bed, reminiscent of the Chevrolet El Camino, comes in light of the ongoing recession and their "ongoing review" related to its long-term viability plan.

Pontiac spokesman Jim Hopson said the sport truck didn't fit with the company's vision for Pontiac.

50 Cent helped introduce the sport truck and two other Pontiacs in March at the New York International Auto Show.

Despite the cancellation of the sport truck, GM says the decision doesn't affect production plans for other G8s, including the G8 sedan, G8 GT and G8 GXP.

The news is the latest of setbacks for the hip-hop mogul, following news that his MTV reality show, "The Money and the Power," had been canceled.

The network cut the show after just six episodes.

50's next album, Before I Self-Destruct, is scheduled to drop February 3.