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05 August 2017, 12:09 | Cedric Leonard
VFACTS July | Toyota Rules As Market Heads For Another Record
The new USA plant aims to produce 300,000 vehicles a year and expects to employ about 4,000 people.
President Donald Trump publicly criticized the plan earlier this year, threatening a "big border tax" on vehicles imported to the United States from the Mexico plant.
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.
Trump welcomed the news, describing it on Twitter as a "great investment in American manufacturing".
The new facility is just one aspect of the partnership Toyota and Mazda, with the two also planning to work together to develop electric vehicles and connected-car technologies, the sources said. Toyota, in particular, has decades of invaluable expertise in hybrids, and is rumoured to be working on seriously next-gen solid-state battery technology for full-electric cars, having intentionally avoided the current tech, which isn't good enough to persuade the public. Toyota and Mazda will invest $1.6 billion to produce crossover models and Toyota's Corolla sedan in the U.S. starting 2021.
However, Toyota now says the said production will shift to the US. This will result in Mazda acquiring 0.25 percent of Toyota, and Toyota acquiring 5.05 percent of Mazda.
Last month, Trump complimented Toyota for completing its long-planned new North American headquarters in Texas.
Mazda had previously operated with Ford Motor Co.in a joint venture in the U.S. Toyota has worked with Subaru and others. Toyota now sells a version of the Mazda 2 rebranded as the Yaris iA in North America, and under the new deal, Toyota will supply a box truck to Mazda for the Japanese market.
Mazda will benefit from the deal that gives the small automaker a production foothold in the United States.
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