Toyota Sues Former GM Over Shuttered Joint Venture

Toyota Motor Corp. TM said Wednesday it filed a lawsuit against General Motors Co.'s GM bankruptcy estate over a production halt at a now-closed manufacturing joint venture in California. The Japanese car maker says Motors Liquidation Co. should pay $73 million in damages to cover R&D costs for the jointly developed Pontiac Vibe, after the former GM halted production of the model in August 2009 a few months after filing for bankruptcy protection, a Toyota spokesman said. Toyota had been in talks with Motors Liquidation on the matter, but "we didn't reach a settlement" and therefore decided to take legal action, the spokesman said. Continue reading the article.