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Toyota, Mazda Corp. to Establish $1.6-Bln Joint Venture in US

Toyota, Mazda Corp. to Establish $1.6-Bln Joint Venture in US

Toyota and Mazda announced the formation of a new alliance that includes establishing a new factory in the USA for building compact Toyotas and Mazda SUVs.

The deepening ties between Toyota and Mazda also are driven in part by the enormous costs automakers are facing to develop connected, self-driving and battery-powered vehicles.

Toyota and Mazda will invest $1.6 billion to produce crossover models and Toyota's Corolla sedan in the United States starting 2021.

On Friday (4 August), the Japanese auto giants said they will join forces to invest $1.6bn in the plant with a capacity to produce 300,000 units a year, and generate employment for up to 4,000 people.

Sales in North America, Mazda's largest market, slipped 6 percent to 106,000 units, with solid sales of its newly launched CX-5 compact crossover SUV doing little to offset sluggish sales of its Mazda 3 and Mazda 6 sedan models.

The move is likely to be seen as a win for President Trump, who attacked Toyota earlier this year over its plans to build a new factory in Guanajuato, Mexico.

Ravens Meeting "Resistance" From Owner Steve Bisciotti Regarding Signing Colin Kaepernick
Kaepernick has become a polarizing figure after he protested the national anthem last season and he has been unable to find a new job since.

Britain to ban sale of new diesel and gasoline cars by 2040
The best electric cars are credible alternatives to their diesel and petrol counterparts, and cost little to run. Poor air quality has been linked to many deaths in recent years.

US Navy ship fires warnings at Iranian ship
According to the US statement, the Iranian boat approached the USS Thunderbolt , coming within 137 meters (150 yards). The warning shots were fired into the water, out of concerns of a possible collision.

"We have not yet announced our investment plans for other sites", Foxconn said in a statement. The result? Mazda just isn't able to produce an electric vehicle with technology as refined as a BMW i3 or a Nissan Leaf, for example.

Toyota yesterday reported that its first quarter profit rose 11 percent as sales improved around the world, including in the US, Europe and Japan.

Ford also meant to move production of its Focus to Mexico, from the US, but will instead start importing the cars from China. The two Japanese automakers also will work together on electric-car technology. In February it announced a plan to co-operate with Suzuki in research and development, and already works with Subaru on a compact sports vehicle model.

Mazda and Toyota's new USA plant is estimated to have an annual production capacity of 300,000 units. He threatened to slap a "big border tax" on Toyota cars if the plant isn't built in the U.S.

Both sides said the venture will create up to 4,000 jobs and begin operations by 2021.

Mazda would also take a stake in Toyota, the report said. Hiroshima-based Mazda has no plants in the US. Toyota, meanwhile, has set a goal for all of its vehicles to be zero emissions by 2050.

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