Mazda to produce electric cars together

Toyota, Mazda plan joint assembly plant in US, report says

Toyota, Mazda plan joint assembly plant in US, report says

Toyota President Akio Toyoda, however, denied being influenced by Trump to invest in the U.S. The company had first started a loose partnership with Mazda in 2015 and said it would produce Tacoma pickups in a Mexico plant, now under construction, instead of Corollas after reassessing the market.

The companies also plan to work together on various advanced auto technology, such as electric vehicles, safety features and connected cars, as well as products that they could supply each other.

Toyota and Mazda will invest $1.6 billion to produce crossover models and Toyota's Corolla sedan in the USA starting 2021.

Trump's tweets applauding the ventures come as Mazda and Toyota are set to announce a facility - operational by 2021 - with the capacity to produce 300,000 vehicles annually.

The new plant will be responsible for building the Toyota Corolla, which was originally planned to be built at Toyota's new plant in Mexico alongside an unnamed Mazda model.

Trump earlier this year threatened Toyota with a border tax after it announced plans to build a new factory in Guanajuato, Mexico. "It has also sparked Toyota's competitive spirit, increasing our sense of not wanting to be bested by Mazda".

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Toyota will take 5 per cent shares of Mazda while the latter will take 0.25 per cent share from Toyota for the tie-up. The new U.S. assembly plant will boost manufacturing and expand employment for America by creating 4,000 jobs in the auto industry.

"It is also the realization of our desire to never let cars become commodities", said Toyota President Akio Toyoda.

Looking ahead, for fiscal year ending March 31, 2018, Toyota now forecasts consolidated net revenue of 28.5 trillion yen, operating income of 1.85 trillion yen, and net income of 1.75 trillion yen.

The joint announcement from the two companies said they had agreed to enter a partnership but did not confirm that the proposed plant would be built, as the President's tweet suggested. (MZDAY) are jointly investing in a new USA production facility that could create 4,000 new jobs.

The plan to share research into electric auto development comes at a crucial time, with industry leaders investing heavily in order to meet the global drive to toughen regulations on gas-powered vehicles.

All Corollas now sold in the USA are made in Ontario, Canada or Mississippi.

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