GM on NUMMI

GM Statement Regarding GM's Ownership Stake in NUMMI

2009-06-29 -- Statement of Troy Clarke, president, GM North America:

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"As part of its long-term viability plan, General Motors has decided that its ownership stake in the New United Motor Manufacturing Incorporated (NUMMI) joint venture with Toyota will not be a part of the 'New GM’.

"After extensive analysis, GM and Toyota could not reach an agreement on a future product plan that made sense for all parties. Accordingly, 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.

"Given that, GM believes it is in the best interest of the ‘New GM’ and its stakeholders that we place our ownership interest in NUMMI in 'Old GM’. We have enjoyed a very positive and beneficial partnership with Toyota for the past 25 years, and we remain open tofuture opportunities of mutual interest.”

Source: GM