Toyota, Mazda partnering to build $1.6 billion auto plant in U.S.
The plant, which is scheduled to open in 2021, will employ up to 4,000 workers and have an annual production capacity of about 300,000 vehicles. It will build Toyota Corollas and new Mazda cross-over models for the North American market.
In a move that could create as many as 4,000 new jobs, Japanese automakers Toyota Motor Corp. and Mazda Motor Corp. have announced plans to build a US$1.6 billion joint-venture auto manufacturing plant in the U.S.
The plant will have an annual production capacity of about 300,000 vehicles. Mazda plans to build new crossover vehicles for the U.S. market at the plant, while Toyota will produce its Corolla model there.
The location of the plant has not been revealed, but – because the new plant will build the Corolla – news reports have speculated that it will be located near Toyota’s current Corolla plant in Mississippi to be close to parts supply companies.
Toyota and Mazda are forming a capital alliance and splitting the cost for the plant equally. The facility is scheduled to begin operations by 2021.
In a statement, the two Japanese automakers said they 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.