Toyota, Mazda plan EV partnership, possible United States plant

Toyota, Mazda plan EV partnership, possible United States plant

Toyota, Mazda plan EV partnership, possible United States plant

The plant, which will open in 2021, will have the capacity to assemble 300,000 vehicles, according to Reuters Friday.

Corolla production in the United States should also take some of the sting off the potential import tax for Toyota, too, as it's one of the brand's bestsellers across the pond, alongside the RAV4 and Camry.

"Right now, we haven't even started our search for locations", Lentz said.

This development would be a boost to United States president Donald Trump, who has chastised automakers setting up shop in neighbouring countries.

When it comes to technology collaboration, Mazda and Toyota say they will jointly develop electric cars.

Toyota, the world's second largest automaker by vehicle sales in 2016 and Japan's dominant car company, has been forging alliances with smaller Japanese rivals for several years, effectively consolidating the Japanese auto sector. The automakers plan to produce Toyota Corollas and a new Mazda SUV crossover at the new plant. "NO WAY! Build plant in US or pay big border tax", Trump tweeted at the time.

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Volkswagen AG VOWG_p.DE opened the last new US assembly plant in 2011 in Tennessee to build new cars after getting almost $600 million in tax incentives.

It also comes after Toyota and other vehicle companies vocally opposed Trump's plans to pursue sweeping changes to the North American Free Trade Agreement, which bolstered Mexican manufacturing. At the time, the automaker was considering making cars for the USA market in Mexico. Drawing closer to Mazda and other Japanese automakers helps.

Consolidated vehicle sales for the first quarter totaled 2.22 million units, an increase of 42,452 units compared to the same period last fiscal year.

For Toyota, the investment is a push to expand USA vehicle-making capacity and market share and intensify its attack on the Detroit automakers' lucrative truck business. It is also the top shareholder in Fuji Heavy Industries, the maker of Subaru cars.

"In the future, mobility won't belong only to carmakers", Toyoda said in a news conference announcing the Mazda stake, noting that Silicon Valley was looking to disrupt the auto industry with new design, manufacturing and retail distribution.

Toyota has already invested $23.4 billion in its US operations, and has planned another $11.6 billion in investment over the next five years, fueled by robust profits. Production of the mid-size pickup truck will also continue at the current sites in the US and Mexico.

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