Axar.az
UP
19 April 2018


Cooperation between Toyota and Mazda

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Japanese automakers Toyota Motor Corp and Mazda Motor Corp announced on Friday they will build a $1.6 billion U.S. assembly plant as part of a new joint venture, while Toyota will take a 5 percent stake in its smaller rival.

Axar.az reports citing Reuters that, the plant, which is planned to start operating in 2021, will be capable of producing 300,000 vehicles a year, with production divided between the two automakers, and employ about 4,000 people, according to a company filing.

They also said that they would consider joint development of electric vehicles, as tightening global emissions regulations prompt more automakers to develop battery powered cars.

Date
2017.08.04 / 12:48
Author
Axar.az
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