Toyota, Mazda to build $1.6B plant in US

Japanese automakers Toyota and Mazda will announce plans to build a new $1.6 billion vehicle plant in the United States that will create 4,000 jobs. USA Today reported.

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The announcement is likely to be seen as a victory for President Donald Trump. who has been pressuring foreign automakers to make more vehicles in the United States. Friday morning, Trump tweeted his approval, calling it “a great investment in American manufacturing.”.

The plant will be operational by 2021 through a 50-50 joint venture between Toyota and Mazda, USA Today reported, citing an anonymous source. It will be capable of producing 300,000 vehicles per year. A site has not been chosen yet, the source said.

Toyota officials declined to comment, and Mazda spokesman Jeremy Barnes told USA Today that the matter was set to be discussed in Japan on Friday but he couldn't comment.