Toyota: to start talks on pulling out of JV with GM
  • Toyota Motor Corp will start talks to pull out of a California-based joint venture with General Motors Corp, an executive at Toyota said on Thursday.

    Toyota ( TM - news - people ) said earlier this month it may liquidate its stake in the Fremont, California auto plant -- commonly known by its acronym NUMMI for the New United Motor Manufacturing Inc -- after GM cut operating ties to the plant in late June.