Toyota and Mazda to build $1.6 billion joint plant in Alabama
11 January, 2018, 00:25 | Author: Elaine Woods
It will be able to build 300,000 vehicles per year and will produce the Toyota Corolla compact auto for North America and a new small SUV from Mazda, the companies have said.
Japanese automakers Toyota and Mazda have picked Alabama as the site of a new $1.6 billion joint-venture auto manufacturing plant, a person briefed on the decision said Tuesday, Jan. 9, 2018.
Trump tweeted in March he wanted "new plants to be built here for cars sold here". Mazda does not now have any USA factories.
Details of an anticipated tax and incentive package for the investment were not yet known.
It's hard to predict auto sales in three years but, at present, Toyota may not need the factory for Corolla production.
Toyota and Mazda have settled on Alabama as the site of their shared plant that will open in 2021.
A year ago, President-elect Trump criticized Toyota and threatened hefty tariffs against the Japanese automaker if it built its Corolla sedan for the USA market in Mexico. Corolla sales fell 14 percent for the year, to just less than 309,000, according to Autodata Corp.
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"Toyota & Mazda to build a new $1.6B plant here in the United States of America and create 4K new American jobs".
The companies originally announced plans for a US plant in August when the two Japanese automakers signed a joint venture agreement, though the exact location was not known at that time. Mazda plans to build new crossover SUVs at the plant.
Expected to open in 2021, the plant breaks ground at a time where US auto sales are on a decline, meaning increased pressure to cut costs could jeopardize the automakers' plans to scale up USA production.
The companies announced they would build a new plant at an undetermined location in August previous year under a capital tie-up and almost 20 US states sought to land the facility. "A great investment in American manufacturing!"
"The impact of an auto assembly plant extends beyond its immediate economic impact, and that's why states offer robust incentives", said Dennis Cuneo, a site-selection consultant and former Toyota executive.
Last year, Toyota acquired a 5-percent stake in Mazda and Mazda acquired a 0.5-percent stake in Toyota to jointly develop competitive electric vehicles.
"Their decision to locate this new facility in Huntsville is a testament to the talented workforce in our state". Prior to that, they were reportedly considering more than a dozen states. Southern U.S. states have the advantage of good transportation infrastructure, business-friendly regulators and generally anti-union politicians. In addition to the existing Toyota engine plant, the state is also home to plants for Hyundai, Honda and Mercedes-Benz.
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