Toyota And Mazda Set To Expand Partnership, Could Build Joint Plant In US

The partnership between Toyota and Mazda appears to be growing as Nikkei is reporting the two companies are close to closing a deal which could pave the way for the joint-development of electric vehicle technology and a new plant in the United States.

According to the Japanese newspaper, Toyota will purchase a five percent stake in Mazda. Mazda will reportedly make a similar investment in Toyota but there’s no word on specifics.

Besides investing in one another, the companies are reportedly discussing the possibility of building a new plant in the southern United States. Sources suggest the plant would primarily build crossovers and have an annual output of around 300,000 units.

A deal could be announced as early as Friday and Toyota told Reuters “We intend to submit a proposal to our board of directors today regarding the partnership with Mazda, however, we would like to refrain from providing further comment at this time.” Mazda issued a similar statement saying “nothing has been decided yet” but the company “will have a board meeting on this matter today.”

The partnership between Mazda and Toyota isn’t as widely known as the company’s previous tie-up with Ford but the automaker currently builds the Yaris iA which is a rebadged version of the Mazda2.

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