Tough times:
Toyota Motor Corp. will wind down its 25-year-old joint venture with General Motors Co., threatening the jobs of 4,700 workers at New United Motor Manufacturing Inc., California's only major auto factory, according to people familiar with the plan.
Toyota said Thursday that it would begin talks with Motors Liquidation Co., the business responsible for selling GM assets that were not part of the new GM that emerged from bankruptcy. Those assets include GM's half of NUMMI.
"There is a likelihood we would not buy the rest of it," Yoshi Inaba, Toyota's top North American executive, told reporters Thursday in Troy.
formatting link