Toyota has filed a lawsuit against Motors Liquidation Co. (aka Old GM), the company that is responsible for the discarded assets of General Motor Corp. Toyota is seeking $73 million in damages for the closure of the joint factory it owned with GM in California, New United Motor Manufacturing Inc., or NUMMI.
Toyota said it is looking to claim the $73 million to cover research and development costs that it said resulted from a breach of contract by GM when NUMMI was shuttered earlier this year.
“It’s part of the process of winding down the Nummi venture,” Toyota spokesman Keisuke Kirimoto said.
GM, which is now known as General Motors Co., pulled out of the venture last year as a part of its bankruptcy restructuring.
– By: Omar Rana
Source: Automotive News (Subscription Required)