Toyota – the Japanese carmaker doesn't know what to do with its production factory in California; is hoping to decide this soon. After GM wanted to quit the joint venture with NUMMI, Toyota realized that only 2 options were available: closing out the factory owned together with General Motors or buy the share of GM, continuing making cars alone.
Akio Toyoda - the President of Toyota Motor Corp. reported to Reuters: 'We are still studying the situation and hope to make a decision soon. GM's decision to withdraw from the joint venture has created some extremely difficult issues for us to resolve'.
Toyoda hinted strategically that it might make a sports car (affordable) likely to be introduced in the upcoming years; with little details about that. It's not clear if this sports car will be constructed at the plant in California if Toyota decides on keeping the facility open.
The Japanese carmaker stated: 'While we respect this decision by GM, the economic and business environment surrounding Toyota is also extremely severe, and so this decision by GM makes the situation even more difficult for Toyota. We will consider alternatives by taking into account various factors, including the current distressed market conditions, our overall North American manufacturing capacity, and the viability of the facility as a stand-alone operation without GM production'.
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