Toyota takes stake in Mazda, links up for $1.6 billion USA plant

06 August, 2017, 01:41 | Author: Yolanda Murray
  • Toyota to take 5 percent stake in Mazda Nikkei

Both companies hope the move will help them catch up with their rivals in electric vehicle technology. Toyota reports its first-quarter results after the market's close Friday.

President Donald Trump had criticized Toyota and other automakers for taking auto production and jobs to Mexico, saying vehicles for the USA market should be built by US workers.

In 2015, Toyota and Mazda agreed to work together to use the resources of both companies and "complementing each other's products and technologies toward the goal of making more-appealing cars". This is a partnership in which those who are passionate about cars will work together to make ever-better cars.

He was appointed previous year to lead Toyota's newly formed electric vehicle division, flagging the group's commitment to a technology it has been slow to embrace.

The deal may also lead to the companies setting up an assembly plant in the U.S.

It looks like Spotify is finally coming to the Xbox
It's been an "exclusive", meaning that consoles like Microsoft's Xbox One and Nintendo's Switch couldn't get the app . The app had an exclusivity right with Sony and their PlayStation Music service, which Spotify aimed to replace.

Toyota wouldn't say where the plant would be built.

Under its new plan, Toyota's forthcoming factory in Guanajuato, Mexico will not build Corollas that are now assembled in Canada and instead build the medium-sized Tacoma pickup.

Toyota Motor Corp and Mazda Motor Corp are nearing a deal to buy stakes in one another and jointly build a US$1.6bil USA factory, according to people familiar with the matter. The truck is also assembled in Texas and is ramping up production now in Baja, California, Mexico.

Trump welcomed the news, describing it on Twitter as a "great investment in American manufacturing".

Toyota's presence in the US has steadily increased over the decades.

High housing costs spur multigenerational households in Canada
Nationally, the number of couples living in households without children grew faster than the number living with them. ONE-PERSON households accounted for 28.2% of all households in 2016-the highest share since Confederation in 1867.

The plant will have an annual production capacity of about 300,000 vehicles, and will produce Toyota Corollas as well as a new Mazda crossover vehicle for the North American market.

The next Corolla will be built on the Toyota New Global Architecture (TNGA) that underpins the 2018 Camry. It tied up with major US graphics chip producer Nvidia in 2016 through a U.S. But recent breakthroughs in batteries allow for longer travel per charge. Until Ford Motor Company sold two-thirds of its controlling interest in Mazda in 2008, the two built the RWD Mustang and FWD Mazda6 in Flat Rock, Michigan. Though speculatively a potential product for the new US factory, its bodystyle is similar to niche models like the BMW X4 and Mercedes-Benz GLC Coupe. The company operates primarily in Japan, North America, Europe and Other Areas.

Japan's Nikkei reported earlier on Thursday that Toyota would take a roughly 5 per cent stake in Mazda Motor Corp (7261.T) to develop key electric vehicle technologies and jointly build a factory in the United States.The source who spoke to Reuters confirmed the Japanese carmakers planned future joint efforts on electric vehicles. Even Toyota has lagged in EV development as it has concentrated on its Prius line of hybrids, and on hydrogen fuel cell development.

With increasing demand and expectations for electric vehicles worldwide, Toyota and Mazda are to explore joint development of technologies for the basic structure of competitive electric vehicles, mobilizing and exchanging expertise freely and actively.

"As Toyota embarks on its joint venture with Mazda, we stand ready to grow our existing partnership and strengthen Mississippi's standing as a global leader in automotive manufacturing".

MJ Still Ranks Kobe Over LeBron, You Agree?
Of course, one person in particular should be delighted with Jordan's analysis, and that's Bill Russell . Jordan did add that James is the best player in the National Basketball Association right now.

Neither Toyota nor Mazda's lineups include EVs. With the sense of crisis, Mazda made a decision to approach Toyota. Toyota also is the top shareholder in Fuji Heavy Industries, the maker of Subaru cars.

Recommended:



Popular

Bank of England holds interest rate at 0.25%
Inflation stood at 2.6% in June and the Bank expects the rate to remain above the 2% target throughout the three-year forecast. The cost of living had reached a a near four-year high of 2.9% in May, before unexpectedly falling to 2.6% in June.

Over 40 Taliban, 4 soldiers killed in S. Afghan clash
In recent weeks, the Taliban have been increasing their attacks on towns and cities across the country. He said one police officer was killed at the scene and another who was wounded died later in hospital.

Polish man arrested over Milan model abduction
Her captor was described as British-Polish and tried to sell her on the internet for 300,000 Euros (£270,000). While holding her hostage, the man demanded around £45,100 (€50,000) from her if she wished to be freed.

Oxford University employee hands himself in following brutal stabbing murder
They have been accused of fatally stabbing Trenton Cornell-Duranleau, 26, in Lathem's apartment in Chicago on July 27. Police have not said why the suspects were in California and have not released details on what led up to the murder.

Ackman seeks board seats, CEO ouster at ADP
Ackman met with Rodriguez on Thursday and asked to postpone the nomination deadline but was told no, two sources told CNBC. Ackman told the company he wants to nominate himself and four other directors to the 10-person board.

Google Play Store will no longer suggest 'lower quality' apps in search
The performance and quality of both mobile apps and webpages are becoming the dominate factor in search result rankings.

Trump's approval rating plunges to 33%
The survey of registered voters found that 68 percent overall were in favor and 27 percent opposed, the Quinnipiac survey showed. The July 13 New York State poll found voters support constitutional convention; women's right to choose gets strongest support.

Andre De Grasse pulls out of World Championships days before start date
Personal rivalries will make this potentially one of the most memorable World Championships in recent years. De Grasse had a strong shot at gold in the 200 metres, which Bolt isn't racing in London.

Teenager jumps out of plane's emergency exit as it lands
It's illegal for a passenger to open the door themselves, and it's unclear what charges he may face. 'It was pretty insane '. In April in the same year, a United Airlines flight attendant also pulled off a similar incident by jumping off an aircraft.

China to Trump: stop with the "emotional venting" on Twitter
Secretary of Health and Human Services, and Vice President Mike Pence on. "They do NOTHING for us with North Korea , just talk". Economic measures against China may reportedly come from the Trump administration sometime this week.