Toyota & Mazda join to create $1.6bn plant in US

Aug 05, 2017, 00:22
Toyota & Mazda join to create $1.6bn plant in US

Toyota wouldn't say where the plant would be built, but it's likely to be in the South, near the rest of the company's US factories.

Mazda has big plans as it partners up with fellow Japanese heavyweight, Toyota.

"The plant will require a total investment of approximately $1.6bn, and will create up to 4,000 jobs".

Trump also included a tweet about his rally Thursday evening in West Virginia, where Gov. Jim Justice switched parties to become a Republican.

Toyota may be the king of hybrid tech but neither brand has really got to grips with full EV cars with much enthusiasm.

It already owns a 16.5% stake in Subaru, where it has a development partnership.

Infotainment and safety tech is another area of focus for the venture.

Mazda lacks any US factories, which exposes one of Japan's smallest carmakers to both trade and currency risk.

The two automakers are also expected to announce investments in each other.

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Trump welcomed the announcement in a tweet: "Toyota & Mazda to build a new $1.6B plant here in the United States of America and create 4K new American jobs". The Toyota Mazda plant will have an annual production capacity of 300,000 vehicles.

The factory will be used to build Toyota Corollas, and as yet un-named Mazda SUV crossover vehicle.

He has strongly criticised Toyota over its ongoing project to build a new factory in Mexico, threatening it with tariffs.

"The greatest fruit of our partnership with Mazda is that we have found a new partner who truly loves cars". The Mazda CX-3, CX-5 and CX-9 are already on sale in the USA, so this could be one of Mazda's upcoming coupe-SUV models.

This would not be Mazda's first collaboration with another vehicle company.

The Nikkei newspaper reported earlier the capital tie-up and plans for a US auto plant, without saying where it got the information.

The two carmakers have also agreed to join forces to develop electric auto technology, and Toyota is to take a 5% stake in Mazda. Each company will purchase five percent of the other's shares.

"Today's agreement is a testament to the positive result of two years of collaborative and deliberate discussions between the two companies, and it is a milestone in the journey to further strengthen and accelerate the partnership in a sustainable way", Toyota and Mazda said in a statement.

This alliance doesn't mean that both brands are now symbiotic.

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