Toyota and Mazda established a joint venture to produce vehicles in the United States with the creation of a production plant in the United States.
The plant is a $1.6 billion investment, with equal funding contributions between both parties. The estimated annual production capacity of the plant is approximately 300,000 units. The plant is also predicted to create an estimated 4,000 jobs.
Toyota will focus the plant's production on building Corollas, while Mazda plans to produce crossover models for the North American market.
Toyota and Mazda have set a goal to begin operations in 2021, pending government approval and authorization.
The effort is part of a larger business alliance between the two companies, which includes joint development of electric vehicle and safety technology, as well as expanding complementary product offerings between both manufacturers.
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