Bidding War Begins to Lure Toyota-Mazda $1.6 Billion Joint Venture Assembly Plant
08/07/2017
It is expected the announcement will spark a bidding war, with states offering lucrative incentive packages to drive the project home and capture up to 4,000 jobs. At the new plant, Mazda expects to produce cross-over models that Mazda will newly introduce to the North American market, and Toyota plans to produce the Corolla for the North American market. The plant would have an estimated annual production capacity of approximately 300,000 units.
Pending approvals and authorization by relevant government agencies, the companies will begin to examine detailed plans with the goal to starting operations of the new plant in 2021.
In addition to the collaboration in product and technology areas that the companies have enjoyed thus far, Toyota and Mazda intend to improve competitiveness in manufacturing through this new production collaboration.
Toyota and Mazda plan to jointly develop technologies for electric vehicles and connected-car technology, as well as collaborate on advanced safety technologies and expand complementary products.
According to both companies, by producing vehicles in the U.S., Mazda aims to build a production structure to further grow in North America. These activities will allow the company to more quickly respond to its customers’ needs depending on the region and model.
By further increasing its production capacity in the U.S., Toyota is to further pursue management that is closer to the region, as a measure to improve its response to the growing North American market. At Toyota’s new plant in Guanajuato, Mexico, which is currently under construction, Toyota plans to produce the Tacoma, instead of the Corolla. There will be no substantial impact on Toyota’s investment and employment plan there.
Project Announcements
Southeastern Timber Products Expands Ackerman, Mississippi Sawmill, Operations
02/07/2025
HII Plans Berkeley County, South Carolina, Operations
02/05/2025
South Korea-Based SPC Group Plans Burleson, Texas, Production Operations
02/05/2025
Diageo North America Plans Montgomery, Alabama, Manufacturing-Warehouse Operations
02/05/2025
Octillion Power Systems Establishes Reno, Nevada, Battery Manufacturing Operations
02/05/2025
Letica Expands Fulton County, Kentucky, Operations
02/05/2025
Most Read
-
2024's Leading Metro Locations: U.S. Cities on the Rise Amid an Economic Reshuffling
Q4 2024
-
The Workforce Factor: How States Are Competing to Build Tomorrow's Talent
Q4 2024
-
Best Practices in Incentives Procurement
Q4 2024
-
NEW NIMBYism: A Threat to The U.S. Economy
Q4 2024
-
Five Strategies to Tackle the Data Center Talent Shortage
Q4 2024
-
Microsoft-Three Mile Island Deal Could Signal Path for Nuclear Power to Strengthen Partnerships with Big Tech
Q4 2024
-
Industries Look for Employees in Nontraditional Spaces Amid Labor Shortage
Q4 2024