Toyota, Mazda to build $1.6BN US Plant
Toyota also announced Friday that it will take a 5 percent stake in Mazda to jointly develop and produce electric vehicles.
"The greatest fruit of our partnership with Mazda is that we have found a new partner who truly loves cars,” said Toyota President Akio Toyoda. “It has also sparked Toyota’s competitive spirit, increasing our sense of not wanting to be bested by Mazda.”
Mazda President and CEO Masamichi Kogai added, “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.”
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