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Toyota, Mazda Set Up U.S. Manufacturing Venture
Toyota Motor Corp. and Mazda Motor Corp. will operate the new assembly plant they are building in Huntsville, Ala., through a joint venture called Mazda Toyota Manufacturing USA Inc.
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Toyota Motor Corp. and Mazda Motor Corp. will operate the new assembly plant they are building in Huntsville, Ala., through a joint venture called Mazda Toyota Manufacturing USA Inc.
MTMUS will head site preparation for the facility and begin construction in 2019. The $1.6 billion facility will employ as many as 4,000 workers and have annual production capacity of 300,000 vehicles when it opens in 2021. Initial output will be evenly split between Toyota Corolla small sedans and an unnamed Mazda crossover vehicle.
Mazda and Toyota confirmed last August that they had formed an equity-based venture, in which Toyota acquired 5% of Mazda and Mazda bought a 0.25% stake in Toyota. Their joint factory is being equally financed by the two companies.
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