U.S.‐Japanese joint venture: New United Motor Manufacturing, Inc. (NUMMI)

New United Motor Manufacturing, Inc. [NUMMI] was formed in February 1983, when General Motors Corporation and Toyota Motor Corporation agreed to establish a joint venture to produce Chevrolet Nova passenger automobiles in an already existing assembly plant, located in Fremont, California. General Motors had closed down the plant site in 1982. Each partner has a 50 percent interest in the joint venture.