|Home page Economy|
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.
2017.08.04 / 12:48