GM-Toyota joint venture terminating

GM-Toyota joint venture terminating

The 25 year old partnership has come to an end, though GM has had a fruitful and long standing relationship with Toyota, but 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.

Troy Clarke, president of GM North America, said. “There are no future GM vehicles planned for the joint venture at this time”. 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.