GM announced today that the ownership stake it has in NUMMI (short for New United Motor Manufacturing Incorporated) will not be transferred to the firm post-bankruptcy.
“After extensive analysis, GM and Toyota could not reach an agreement on a future product plan that made sense for all parties,” said Troy Clarke, president of GM’s North American operations.
“There are no future GM vehicles planned for the joint venture at this time. Given that, GM believes it is in the best interest of the ‘New GM’ to place our ownership interest in ‘Old GM.’”
NUMMI will likely continue in light of this development, as the plant also builds the Matrix hatchback and the Tacoma pickup truck.
Located in Fremont, California, NUMMI was founded by GM and Toyota in 1984. Vehicles produced at the facility include the 1985-1988 Chevrolet Nova and Toyota Sprinter, the 1989-2002 Geo/Chevrolet Prism and Toyota Corolla, and the 2002-2009 Pontiac Vibe and Toyota Matrix.