Lanterns: Toyota-Mazda deal for US plant may bring 4,000 jobs

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Toyota-Mazda deal for US plant may bring 4,000 jobs

by 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.

FILE- In this March 13, 2015, file photo, Toyota President and CEO Akio Toyoda speaks during a press conference in Tokyo. Toyota Motor Corp. stock is skidding in Tokyo trading after U.S. President-elect Donald Trump said Thursday, Jan. 5, 2017 on Twitter that the Japanese automaker faces a Expand / Collapse

Toyota President and CEO Akio Toyoda speaks in Tokyo, March 13, 2015.  (Associated Press)

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 Todayreported.

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

Written by News Desk

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