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Toyota and Mazda will build a $ 1.6 billion plant in the U.S.



Japanese automakers Toyota Motor Corp and Mazda Motor Corp plan to build a $ 1.6 billion plant in the US, the company said on Friday, as part of the alliance, which will also enable them to jointly develop the technologies needed to produce electric vehicles.



05.Aug.17 1:34 PM
By Daria Zaytseva
Photo Toinnov.com

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Toyota and Mazda will build a $ 1.6 billion plant in the U.S.

Companies within the alliance will get small shares of each other: Toyota, the world's second automaker, will receive a 5 % stake in Mazda, consolidating leadership in the Japanese auto sector. Mazda will receive 0.25 % of shares of a larger competitor.

The new plant can strengthen the position of U.S. President Donald Trump, who during the campaign promised to expand production and increase employment in the auto sector.

The plant, which will open in 2021, will be able to produce 300,000 cars a year. Two automakers will share production, and the number of employees will be about 4,000 people.

Collaboration in the development of electric vehicles is associated with a tightening of global norms regarding emissions of harmful substances into the atmosphere. More and more automakers are developing cars on batteries, and the industry faces high research costs and fierce competition from technology companies, particularly in the development of robotic driving.

Mazda, a smaller automaker than Toyota, as a result of the partnership will receive a base for production in the U.S. Now the company supplies cars to the largest American market for it from factories in Japan and Mexico.

The companies plan to produce Toyota Corolla cars and Mazda crossovers at the American plant.




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