Tag: nummi

Toyota suing Old GM over shutdown of NUMMI plant?

Filed under: Government/Legal, Plants/Manufacturing, GM, Toyota, Earnings/Financials

Toyota logo tells GM logo to pay up

Toyota is still upset about how its joint NUMMI venture with General Motors was handled, and according to Automotive News, the Japanese automaker has now filed a lawsuit to the tune of $73 million. The suit is against Motors Liquidation Co., the company created to pick through the discarded ashes of “Old GM.”

Toyota states that when General Motors pulled away from the NUMMI facility in 2009, it breached the contract between the two automakers. The $73 million covers research and development costs that were poured into the Fremont, California facility before it was shuttered last year.

The plant now belongs to Tesla, who purchased it from Toyota in May of 2010, for $42 million.

[Source: Automotive News – sub. req.]

Toyota suing Old GM over shutdown of NUMMI plant? originally appeared on Autoblog on Wed, 01 Dec 2010 15:30:00 EST. Please see our terms for use of feeds.

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Report: Tesla to buy old resources from GM, Toyota for NUMMI plant

Filed under: Plants/Manufacturing, Tesla

Tesla Model S – Click above for high-res image gallery

When Tesla struck a deal a few months ago with Toyota to buy the closed NUMMI factory in Fremont, CA, it was made clear that the $42 million price tag only included the building and property. At the time, Tesla officials indicated that most of the equipment previously used to build Toyota Tacomas and Pontiac Vibes was unsuitable for its upcoming products.

Apparently, after going through the available machinery, Tesla did find some items it can use and has reached an agreement with Toyota and Motors Liquidation Company (the remnants of the old, bankrupt General Motors) to buy some of the equipment for a total of $15 million. Tesla has paid $4.6 million as a deposit toward the purchase and will close the deal along with the property purchase. The purchase likely covers generic equipment such as lift trucks, robots and paint equipment.

Gallery: Tesla Model S

[Source: The Street]

Report: Tesla to buy old resources from GM, Toyota for NUMMI plant originally appeared on Autoblog on Mon, 23 Aug 2010 18:00:00 EST. Please see our terms for use of feeds.

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