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Toyota And Mazda Enter Business And Capital Alliance

Toyota And Mazda Enter Business And Capital Alliance

While the factory would, in theory, be active by 2021 and aim to produce 300,000 cars per year, employing 4000 workers, what's not clear is whether there is a platform-sharing deal in place to allow Mazda's American faux-SUVs to be built on the same production line as the future Corolla.

Toyota and Mazda said: "As part of the new alliance, Toyota and Mazda have agreed to explore establishing a joint venture plant in the USA with equal funding contributions".

"A great investment in American manufacturing!", he tweeted.

The sweeping partnership between the two companies includes investments in each other and collaboration on development of electric vehicles and self-driving auto technology. That's why Toyota and Mazda are now teaming up to build electric cars together. Toyota intends to build the Corolla there, while Mazda will use the new facility to make crossovers.

However, Toyota now says the said production will shift to the US. Just prior to taking office, he took to Twitter to threaten Toyota with a "big border tax" if the company built a factory in Mexico. Toyota is the world's second largest automobile producer by volume and will take a 5 percent stake in Mazda.

With the Prius and other hybrids, Toyota has dominated the market for lower-emission vehicles for years but is behind on fully battery-powered auto development.

Volkswagen AG VOWG_p.DE opened the last new USA assembly plant in 2011 in Tennessee to build new cars after getting almost $600 million in tax incentives. "With the investment", the AP said, "both automakers can hope to prove their good American corporate citizenship and appease the Trump administration's concerns about jobs moving overseas".

Toyota, along with German and Asian automakers, have during the past 30 years built a second auto industry in the United States, rivaling the US operations of the Detroit Three automakers in size and employment, but with newer, and far less unionized, plants.

Toyota Motor Corp. and Mazda Motor Corp. are set to form a capital alliance to boost joint development of electric vehicles, sources close to the matter said Friday.

Toyota is aiming to fully enter the EV market by 2020 and Mazda aims to start selling EVs in the United States in 2019.

The limited tie-up with Mazda marks the latest addition to Toyota's sprawling empire, which includes Japanese truck maker Hino Motors and minicar maker Daihatsu Motor Co. Production of the mid-size pickup truck will also continue at the current sites in the USA and Mexico. Toyota is aiming to have such cars on the market by 2020, while Mazda is aiming for a launch in 2019.

Toyota, which makes the Prius hybrid, Camry sedan and Lexus luxury models, sold 2.2 million vehicles for the quarter, an improvement of 42,000 vehicles on-year.

Toyota has already invested $23.4 billion in its USA operations, and has planned another $11.6 billion in investment over the next five years, fueled by robust profits.

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