Toyota, Mazda to build $1.6 billion USA plant

Georgetown Kentucky Toyota Plant

Toyota to take up small stake in Mazda; new JV to set up $1.6b factory in the US for Corolla, SUVs – reports

The two Japanese auto manufacturers Toyota and Mazda will be partnering for the development of a new $1.6 billion assembly plant in the U.S., as well as for the development of electric vehicle technologies.

Toyota and Mazda have taken their relationship to the next level, with the two companies purchasing shareholdings in each other, and detailing a number of new joint projects, caradvice said. The two also will develop a battery-electric vehicle together. "Build plant in USA or pay big border tax".

"By buying a 5 percent stake, Toyota takes Mazda off the table rather than having it sit out there like a free agent which could someday be used against them". This is a partnership in which those who are passionate about cars will work together to make even better cars.

He was appointed past year to lead Toyota's newly formed electric auto division, flagging the group's commitment to a technology it has been slow to embrace.

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Volvo Cars, a Swedish brand owned by China's Geely Automobile Holdings Ltd [0175.HK] [GEELY.UL] will open a $500 million US assembly plant next year in SC.

Toyota has invested $961 million in the Blue Springs plant, which employs 2,000 workers. On Friday, the Japanese firm said it now plans to produce Tacoma pickup trucks at the plant in Mexico instead of the Corolla. The two plan to start producing Corolla compact cars and Mazda crossovers at a shared factory in 2021, creating as many as 4000 jobs. "A great investment in American manufacturing!" In the US market, Toyota has been struggling to sell sedan-type cars as the sales of large vehicles are increasing because of low gasoline prices.

The source, who was not authorised to speak to the media and requested anonymity, said the plant in a yet to be determined USA location was expected to build Toyota Corolla cars and a Mazda crossover utility vehicle. Until previous year, Subaru Corp built the Camry for Toyota at a factory in Indiana.

"We have a lot of confidence in the USA economy", Lentz said.

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The last time Mazda made a auto in the States was 2012, right before the company sold its 50 per cent share in the AutoAlliance factory in Flat Rock, Michigan, back to Ford. The two companies aim to dodge criticism from the administration of U.S. President Donald Trump, which pledges to reduce huge trade deficits by accelerating domestic production and job creation.

It already owns a 16.5 percent stake in Subaru Corp, Japan´s No.6 automaker, with which it also has a development partnership.

The automakers' alliance grew out of a May 2015 agreement between Mazda and Toyota to "mutually benefit the companies in such forms as leveraging the resources of both companies and complementing each other's products and technologies toward the goal of making more-appealing cars", Toyota said in a statement. Past year it established a division to develop full-sized EVs, shifting gears after long favouring EVs only for short-distance commuting given their limited driving range and lengthy charging time.

Toyota will build a "two-box" commercial van for Mazda for the Japanese domestic market. With the sense of crisis, Mazda made a decision to approach Toyota.

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An alliance between Toyota and Subaru has produced the Toyota 86 and Subaru BRZ, though plans to base the upcoming 2018 Subaru Ascent off the Toyota Highlander were scrapped. The companies have not yet picked a location, which is likely to trigger a bidding war from states seeking to spur economic development.

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