Today Toyota and Mazda are expanding on their partnership with a new agreement that will see the two companies build a new plant in the U.S. and collaborate on the development of EV and connected car technologies.
The new plant will produce the Corolla and new Mazda crossovers.
Toyota and Mazda originally formed a collaboration in 2015 and now the two companies have found new ways to further their partnership. The biggest part of the partnership will be to build a new plant in the United States that will produce Mazda crossovers and the Toyota Corolla. The new plant will have an annual production capacity of 300,000 vehicles with the plant coming online in 2021. The plant will require an investment of $1.6 billion and will create up to 4,000 new jobs.
“The greatest fruit of our partnership with Mazda is that we have found a new partner who truly loves cars. It has also sparked Toyota’s competitive spirit, increasing our sense of not wanting to be bested by Mazda,” stated Toyota President Akio Toyoda. “This is a partnership in which those who are passionate about cars will work together to make ever-better cars. It is also the realization of our desire to never let cars become commodities.”
Both companies are also going to collaborate on the technologies for the basic structure of electric vehicles. In addition to new EV technologies, both Toyota and Mazda will jointly develop technologies for onboard multimedia infotainment systems in preparation for increased use of in-car information technologies and the increasing demand for connected technologies.
Right now Toyota is already selling the rebadged Mazda2 sedan as the Yaris iA in the U.S. Now Toyota is going to a compact commercial “two-box” van to Mazda in Japan.
Lastly Toyota is going to acquire 5.05 percent of Mazda, while Mazda is going to acquire a.25% stake in Toyota.
“Nothing would please me more than if, through this alliance, we can help to energize the auto industry and create more car fans by bringing together two competitive spirits to spur each other on, leading to innovations and fostering talent and leaders,” stated Mazda, President and CEO Masamichi Kogai.
