Bankrupt auto giant General Motors Corp. said in the United States on Monday that it will pull out of the New United Motor Manufacturing Inc. joint venture with Toyota Motor Corp. and stop producing the Pontiac Vibe at the plant in August.
"As part of its long-term viability plan, General Motors has decided that its ownership stake in the New United Motor Manufacturing Inc. joint venture with Toyota will not be a part of the 'New GM,' " Troy Clarke, president of General Motors North America, said in a statement.
"After extensive analysis, GM and Toyota could not reach an agreement on a future product plan that made sense for all parties. Accordingly, NUMMI will end production of vehicles for GM in August, and there are no future GM vehicles planned for the joint venture at this time," he said.