Toyota and Mazda said to be planning $1.6bn US plant as part of joint venture
Washington/Detroit — Toyota and rival Mazda are expected to announce plans on Friday to build a $1.6bn US assembly plant as part of a new joint venture, a person briefed on the matter said. The plant would be capable of producing 300,000 vehicles a year, with production divided between the two car makers, and would employ about 4,000 people when it opened in 2021, the person said. A new car plant would be a major boost to US President Donald Trump, who campaigned on promises to increase manufacturing and expand employment for American car workers. 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% stake in Mazda to develop key electric vehicle technologies and jointly build a factory in the US. The source confirmed the Japanese car makers pla...
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