Toyota Motor Corp and Mazda Motor Corp said on Thursday they will now invest US$2.3 billion in a new joint venture Alabama factory, US$830 million more than announced in their original plan in 2018.
FILE PHOTO: The logos of Toyota Motor and Mazda Motor are pictured before the companies' joint news conference in Tokyo, Japan August 4, 2017. REUTERS/Kim Kyung-HoonWASHINGTON: Toyota Motor Corp and Mazda Motor Corp said on Thursday they will now invest US$2.3 billion in a new joint venture Alabama factory, US$830 million more than announced in their original plan in 2018.
Production is expected to start next year building up to 150,000 future Mazda crossover vehicles and 150,000 Toyota sport utility vehicles annually. The Japanese automakers are expected to receive US$97 million in additional tax incentives for the added investment, a person briefed on the matter said.
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