Toyota suing Old GM over shutdown of NUMMI plant?
Filed under: Government/Legal, Plants/Manufacturing, GM, Toyota, Earnings/Financials
Toyota is still upset about how its joint NUMMI venture with General Motors was handled, and according to Automotive News, the Japanese automaker has now filed a lawsuit to the tune of $73 million. The suit is against Motors Liquidation Co., the company created to pick through the discarded ashes of “Old GM.”
Toyota states that when General Motors pulled away from the NUMMI facility in 2009, it breached the contract between the two automakers. The $73 million covers research and development costs that were poured into the Fremont, California facility before it was shuttered last year.
The plant now belongs to Tesla, who purchased it from Toyota in May of 2010, for $42 million.
[Source: Automotive News - sub. req.]
Toyota suing Old GM over shutdown of NUMMI plant? originally appeared on Autoblog on Wed, 01 Dec 2010 15:30:00 EST. Please see our terms for use of feeds.
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