Toyota acquires 5% stake in Mazda as part of joint venture for new plant, electric cars
An automotive capital alliance is in the works between Toyota and Mazda to pave way for a joint-venture aimed to establish an auto plant in the U.S. and the development of electric vehicle technologies, Japanese media outlet Nikkei Asian Review revealed today.
A deal that includes the acquisition of a 5% stake at Mazda by Toyota could be announced as soon as Friday, the report says.
Such collaborations between both Japanese companies are not rare to Mexico’s automotive industry. The far smaller Hiroshima-based automaker currently builds for Toyota the Yaris iA at the Salamanca, Guanajuato facility. However, the report appears to be the first sign of an official collaboration to develop electric drives, a move reported last year for the first time.
The Nikkei does not specify the location of the plant other than “in the American south” but the capacity is claimed to be a combined 300,000 SUVS per year for both brands. On the other JV in the area of “key electric vehicle technologies” the Nikkei offers no specifics.