Toyota and Mazda plan to build $1.6 billion U.S. plant in joint venture
Plant will build 300,000 vehicles annually and employ 4,000 workers.
Toyota and Mazda announced plans on Friday to build a $1.6 billion U.S assembly plant in a new joint venture.
A location for the $1.6 billion facility has not yet been picked, but it will have the capacity to build 300,000 vehicles annually while employing 4,000 workers.
The companies hope to open the plant in 2021.
Japanese automakers Toyota and Mazda are forming a partnership to build a new final assembly plant in the United States, the companies announced Friday.
A location for the $1.6 billion facility has not yet been picked, but it will have the capacity to build 300,000 vehicles annually while employing 4,000 workers.
The companies hope to open the plant in 2021.
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.
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Source: CNBC
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