Mazda to produce electric cars together

Mazda to produce electric cars together

The plant will have an annual production capacity of about 300,000 vehicles, according to the Associated Press, and will produce Toyota Corollas for the North American market.

"Toyota & Mazda to build a new $1.6B plant here in the United States of America and create 4K new American jobs".

The plant, something of a surprise at a time of overcapacity in the US market, will be a boost to US President Donald Trump, who campaigned on promises to increase manufacturing and expand employment for American autoworkers.

Toyota and Mazda also plan to work together on developing in-car information technologies and automated driving functions, as competition intensifies over the development of self-driving vehicles.

The pair will invest $1.6 billion to build a factory in the USA to produce cross-over models and Toyota s Corolla sedan starting from 2021. Toyota's president said that when the time is right, they will consider producing EVs at the new USA plant. Shortly before taking office, Trump tweeted an ultimatum to the company.

Toyota is likely to acquire a roughly 5 percent stake in Mazda while the latter is expected to obtain a several percent stake in the former, the sources said.

Toyota, the world's largest auto maker, already has a major manufacturing presence in the Midwest and South with factories in Indiana, Kentucky, Mississippi and Texas.

The alliance is also an attempt to catch up with rivals in the race for electric auto technology, as tighter global emissions rules loom, along with the entry of new players into the market.




Ford also meant to move production of its Focus to Mexico, from the US, but will instead start importing the cars from China. He commented on Twitter that it was a "great investment in American manufacturing".

Mazda would also take a stake in Toyota, the report said.

Toyota has been creating alliances with Japanese rivals for years. "Build plant in US or pay big border tax".

However it's not only electric cars that will benefit from the partnership. Toyota is aiming to have such cars on the market by 2020, while Mazda is aiming for a launch in 2019.

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.

Mazda entered the U.S. market in as Mazda Motor America in 1970.

Toyota announced plans in January to invest $10 billion in USA operations over the next five years.

Related Articles

  • The Health Reporter Is In: Aug. 3, 2017

    The Health Reporter Is In: Aug. 3, 2017

    The total solar eclipse is just a few weeks away, and scientists and stargazers alike are preparing for a rare phenomenon. But not all of those glasses will be safe for your eyes if you look up at the sun during the eclipse.
    RBA warns high dollar may slow growth

    RBA warns high dollar may slow growth

    Housing prices have been rising briskly in some markets, although there are some signs that these conditions are starting to ease. The main event this week is the Reserve Bank of Australia (RBA ) rate meeting out at 5.30 BST on Tuesday morning, August 1.
    Venezuela to Introduce Ban on Street Protests

    Venezuela to Introduce Ban on Street Protests

    US officials say the Venezuelan government could face additional sanctions that could hit the country's oil industry. The oil export-dependent economy will shrink 12 per cent this year, the International Monetary Fund predicts.
  • Jon Jones calls out Brock Lesnar after UFC 214 win

    Jon Jones calls out Brock Lesnar after UFC 214 win

    I think MMA fans would be really excited about that fight, but the general public wouldn't care about that fight. Jones consistently attacked the body, and Cormier answered with a flurry of strikes.
    Schumer praises GOP mavericks on health care

    Schumer praises GOP mavericks on health care

    If President Trump wants a legacy item he could get it by repairing something he has told the American people, is beyond fix . With Democrats unanimously opposed, the slender 52-48 GOP majority was divided among itself over what it could agree to.
    Photos show devastating aftermath of wildfires that have torn across southern France

    Photos show devastating aftermath of wildfires that have torn across southern France

    At the same time, just over 2,000 firefighters are engaged in mopping-up operations and are on the lookout for re-ignitions. Civil Protection Agency spokeswoman Patricia Gaspar said continuing strong winds and tinder-dry woodland remain a menace.
  • IT Shock for DK Shivakumar !

    IT Shock for DK Shivakumar !

    Jaitley, while addressing the Lok Sabha, said that the raids are being conducted purely on economic front. Please Wait while comments are loading.
    Japan's tariff increases on United States  beef will harm relations, says USDA chief

    Japan's tariff increases on United States beef will harm relations, says USDA chief

    By volume, total USA beef sales to Japan for January-May came in at 123,290 tonnes, compared with 96,394 tonnes a year ago. Finance Minister Taro Aso announced the move today, saying he was prepared to explain the decision to the USA side.
    US Says Iran Rocket Test Breaches UN Resolution 2231

    US Says Iran Rocket Test Breaches UN Resolution 2231

    Strategic Command, which monitors launches around the world, could only confirm a satellite was not deployed from the rocket. Such a move by the Department of Treasury comes a day after Iran carried out launch of the Simorgh space launch vehicle.
  • 2 infants die in separate hot-car incidents in Phoenix

    2 infants die in separate hot-car incidents in Phoenix

    According to Phoenix police, this death comes only 24 hours after seven-month-old Zane Endress died after being left in a auto . The one-year-old female was left in the auto for about two hours, according to initial reports from Phoenix Fire Department.
    LG V30 Floating Bar to Replace Secondary Screen

    LG V30 Floating Bar to Replace Secondary Screen

    The LG V30 will then go up for preorders in the United States starting September 17, before finally going on sale on September 28. With the LG V30 slated for an August 30 announcement, it's only natural for more and more leaks and rumors to start popping out.
    US Lifts Laptop Ban On Flights From Middle East

    US Lifts Laptop Ban On Flights From Middle East

    Information about the threat also came from a British penetration of the Islamic State in Syria, U.S. officials have said. Homeland Security Secretary John Kelly told a USA security conference Wednesday that experts carried out such a test.