GM is set to end its 25-year US partnership with Toyota, as it leaves behind some of its assets in the bankruptcy court.
The two car giants have a 50 per cent stake each in New United Motor Manufacturing Inc (NUMMI) based in California. GM produces the Pontiac Vibe at the factory, while Toyota builds Corolla and Tacoma models there.
GM is due in bankruptcy court today in attempt to sell off it best assets to a new GM funded by the Obama administration. The Toyota venture is one asset which will not be taken on by new GM.
Troy Clarke, GM's president of North American operations, said: “After extensive analysis, GM and Toyota could not reach an agreement on a future product plan that made sense for all parties.
“NUMMI will end production of vehicles for GM in August, and there are no future GM vehicles planned for the joint venture at this time.”
A Toyota statement said the Japanese firm was disappointed that the venture had ended and that it had wanted to keep it going.