Nummi auto plantToyota Motor (TM) is reportedly suing what remains of the discarded assets of the "old GM," officially known as Motors Liquidation Co., for pulling out of the companies' joint venture in California.

Toyota wants $73 million for damages related to the closing of the facility, which was shuttered after GM pulled out of the deal amid bankruptcy restructuring last year, according to news reports.

Toyota is seeking to recoup the amount to cover research and development costs for the jointly developed Pontiac Vibe compact SUV. The model was discontinued in August 2009, just weeks after the new General Motors (GM) emerged from bankruptcy.

The New United Motor Manufacturing, or Nummi, plant in the city of Fremont was one of the last auto manufacturing facilities on the West Coast. In addition to the Vibe, in recent years the plant produced Toyota Corolla, Matrix and Tacoma models. Its closing in April eliminated 4,700 jobs.

The Nummi plant was sold to electric-car maker Tesla Motors (TSLA) in May for $42 million. Tesla is partnering with Toyota to produce an electric version of the Japanese automaker's RAV4 compact SUV.

Earlier this week, Nummi said it is separately seeking $365 million in damages for breach of contract after the former GM pulled out of the joint venture, The Wall Street Journal reported.

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stevendy1

what a whiner of a company--pathetic

December 01 2010 at 2:45 PM Report abuse +1 rate up rate down Reply
smithdeane

if toyota gets money after the ripping off of the bond holders with the govt. and awarding all that was golden to the union , screwing the prefered stock holders , it aint right or legal ----- Toyota needs to sue the union as to where that mone went courtesy of the goverment was in thier coffers

December 01 2010 at 1:01 PM Report abuse -1 rate up rate down Reply
kenneth

So what does Toyota gain by suing "old GM?" There would appear to be no assets which could be gained. Or was there some residual value of which I am not aware?

December 01 2010 at 11:27 AM Report abuse -1 rate up rate down Reply
SAM

IT'S GOOD THAT TOYOTA NOW KNOWS WHAT KIND OF SORRY PARTNER THEY HAD WHEN THEY WERE TEAMED UP WITH GM. HOW CHEESY IS IT THAT A COMPANY LIKE GM CAN JUST WALK AWAY FROM THEIR RESPONSIBLITIES. GM REALLY SCREWED THE PEOPLE OF FREMONT CALIFORNIA AND I HOPE THEY REMEMBER THAT. TOYOTA AND TESLA AT LEAST ARE TRYING TO CREATE SOME JOBS IN FREMONT BY OPENING THE PLANT AGAIN TO BUILD SOME OTHER VEHICLES.

December 01 2010 at 10:59 AM Report abuse -1 rate up rate down Reply