Toyota, Mazda set to announce $1.6 billion US plant

[Teh One Who Knocks]

By Paulina Dedaj - FOX News




Rival Japanese automakers Toyota and Mazda are expected to announce plans Friday to build a major U.S. assembly plant as a part of a new joint venture.

The $1.6 billion plant, to be built in an unspecified U.S. location and open in 2021, will be able to produce 300,000 vehicles a year and employ 4,000 people, Reuters reported.

The Trump administration will likely claim the new plant as a victory, fulfilling the president’s push to urge foreign automakers to make more vehicles in the U.S.

In January, Trump singled out Toyota, threatening the company with a steep border tax if it did not invest in U.S. production. Toyota later announced it would invest $10 billion in U.S. operations over the next five years, USA Today reported.

The two automakers are also expected to announce investments in each other.

[deebakes]