Toyota President Confirms Joint Expansion Plan with GM

Toyota President Katsuaki Watanabe confirmed reports that the automaker will expand its 20-year partnership with GM by upgrading their shared New United Motor Manufacturing Inc. (NUMMI) facility, in Freemont, California. GM and Toyota “are ready to move ahead and decide on the investment, with a goal to make better vehicles,” Watanabe said of the reported 5-year, $143 million deal, reports Bloomberg. The two automakers will share the costs of the upgrade since it’s a “50-50 factory,” Watanabe said. The automaker did not comment on separate reports speculating that Toyota may build hybrids at NUMMI.