Toyota, Mazda will build $1.6 billion plant in U.S.August 4, 2017 - 14:25 AMT PanARMENIAN.Net - Toyota and Mazda have announced plans to build a $1.6 billion manufacturing plant in the U.S. that will create as many as 4,000 jobs, CNN reports. The Japanese automakers said in a statement that the new facility would be operational by 2021, but did not specify where it would be built. Mazda plans to build new crossover vehicles for the U.S. market at the plant, while Toyota will produce its Corolla model there. The move is likely to be seen as a win for President Donald Trump, who attacked Toyota earlier this year over its plans to build a new factory in Guanajuato, Mexico. He threatened to slap a "big border tax" on Toyota cars if the plant isn't built in the U.S. Toyota had planned to build Corollas -- the world's best-selling car -- at the plant in Mexico. On Friday, August 4, the Japanese firm said it now plans to produce Tacoma pickup trucks at the plant in Mexico instead of the Corolla. All of the Corollas that are currently sold in the U.S. are made at plants in either Ontario, Canada, or Mississippi. Toyota and the much smaller Mazda also announced a new business partnership on Friday -- the latest example of consolidation in the auto industry. Toyota will pay about $450 million for a 5% stake in Mazda as part of the deal, while Mazda will buy a stake of the same value in Toyota. In addition to the new factory in the U.S., the automakers said they would collaborate on technology for electric vehicles and safety. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. |