GM-Toyota joint venture terminating
Though GM has had a fruitful and long standing relationship with Toyota, the Nummi venture is ending. GM has been unable to reach an understanding with Toyota regarding a new product plant at Fremont, California. And since it is in the process of downsizing, this is one venture which will not see the light of day.
“There are no future GM vehicles planned for the joint venture at this time,” said Troy Clarke, president of GM North America, in a statement. On its part the Toyota spokesman Mike Goss said in a statement that the Japanese automaker is disappointed to see the partnership end.
“The economic and business environment surrounding Toyota is also extremely severe, and so this decision by GM makes the situation even more difficult for Toyota,” he said in a email.
[Via: globalmotors]
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