General Motors (GM) cut’s auto plant ties with Toyota
Filed under: Autos | By: Peter Chubb
Posted on: June 30, 2009 | 1 Comment
General Motors has finally cut ties with Toyota on Monday; the two companies had been running an auto plant in northern California for 25 years. This move now means that there is an uncertain future for the plant, which employs more than 5,000 workers.
According to Reuters, this plant was once a groundbreaking experiment as it bought together the Japanese efficiency to the U.S. workforce. GM, who is now running under government bankruptcy protection since the beginning of June, said that they were not able to reach an agreement with Toyota over production plans for the plant.
Both GM and Toyota have been joint partners on this joint venture since 1984, the common name for the venture was NUMMI (New United Motor Manufacturing Inc). General Motors built the Pontiac Vibe and Toyota built the Corolla sedan and the Tacoma compact pickup truck.
Read the full article over at Reuters
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IF GM can make it to July 10th, they could excape the clutches of the US Government. The Treasruy said it wouild leave GM alone and allow GM to reorganize without a goverment forced bankruptcy. Let,s all prey GM can restructure as a normal business.