Toyota, Mazda enter business and capital alliance

Two automakers to jointly invest in new plant in US and collaborate in the areas of electro-mobility, connectivity and safety

On 4 August, Toyota and Mazda signed an agreement to enter business and capital alliance, the two Japanese automakers said in separate press releases. As part of the alliance, the automakers will establish a joint-venture plant in the United States which will have annual production capacity 300,000 units. The proposed plant, a site for which will be decided later, will begin operations in 2021. Toyota and Mazda will jointly invest USD1.6 billion in the plant, which will create 4,000 jobs. Toyota will use the plant to produce its Camry sedan, while Mazda will produce crossover models for the North American market.