Toyota, Mazda to build $1.6b US plant

Dhaka,  Thu,  21 September 2017
Published : 04 Aug 2017, 11:00:44

Toyota to build $1.6 billion US plant with rival Mazda

FE Online Desk
Toyota Motor Corp and rival Mazda Motor Corp are expected to announce plans on Friday to build a $1.6 billion US assembly plant as part of a new joint venture, a person briefed on the matter said.

The plant will be capable of producing 300,000 vehicles a year, with production divided between the two automakers, and will employ about 4,000 people when it opens in 2021, the person said; according to Reuters.

A new auto plant would be a major boost to US President Donald Trump, who campaigned on promises to increase manufacturing and expand employment for American autoworkers.

The source, who was not authorised to speak to the media and requested anonymity, said the plant in a yet-to-be-determined US location was expected to build Toyota Corolla cars and a Mazda crossover utility vehicle.

Japan's Nikkei reported earlier on Thursday that Toyota would take a roughly 5 per cent stake in Mazda Motor Corp to develop key electric vehicle technologies and jointly build a factory in the United States.

The source confirmed the Japanese carmakers planned future joint efforts on electric vehicles.
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