Thursday, 14 December, 2017

Toyota, Mazda to build $1.6B plant in US

Georgetown Kentucky Toyota Plant Toyota, Mazda to Build $1.6 Billion Plant in US in Joint Venture
Debra Rodriguez | 05 August, 2017, 01:11

According to the Associated Press, the plant will produce up to 300,000 vehicles annually, including Toyota Corollas and new Mazda cross-over models for the North American market.

The new factory's location hasn't been decided.

The two companies will work together on developing electric vehicle technologies as emission regulations compel automakers to invest in the technology. The automakers plan to produce Toyota Corollas and a new Mazda SUV crossover at the new plant. On Friday, the Japanese firm said it now plans to produce Tacoma pickup trucks at the plant in Mexico instead of the Corolla.

In his Friday-morning tweets, Trump also highlighted another foreign company's recent investment in the US.

According to the agreement, Toyota will acquire a 5.05 percent stake in Mazda for 50 billion yen (454 million US dollars), while Mazda is to buy a 0.25 percent shareholding in Toyota that are equivalent in value to the Mazda shares.

"Toyota and Mazda have been working more closely together, so it is no surprise they will have a plant together", Autotrader.com analyst Michelle Krebs said, adding that Mazda had been searching for USA manufacturing capacity.

There are plans to jointly develop electric vehicle tech 'for the basic structure of competitive electric vehicles'.

It also comes after Toyota and other auto companies vocally opposed Trump's plans to pursue sweeping changes to the North American Free Trade Agreement, which bolstered Mexican manufacturing. "The plant will require a total investment of approximately 1.6 billion US dollars, and will create up to 4,000 jobs", the press release said. He threatened to slap a "big border tax" on Toyota cars if the plant isn't built in the U.S.

Both Japanese automakers will take small amount of stakes in each other as part of the link up.

Toyota began its manufacturing operations in the United States in 1972. Neither brand has anything mainstream enough to take on Nissan's Leaf, for example, and European manufacturers are busy surging their electric auto development processes.

Toyota on the other hand is perfectly placed to enter the EV market, and has already committed to sustainable transport.

Toyota announced plans in January to invest $10 billion in USA operations over the next five years.

Recommended

  • Women's Euro 2017 Semi-Final

    Women's Euro 2017 Semi-Final

    But after France had spurned some early chances, Arsenal striker Jodie Taylor broke the deadlock on the hour with her fifth goal of the tournament.
    Trump Dips Below Obama's Worst Approval Rating

    Trump Dips Below Obama's Worst Approval Rating

    The poll was conducted from July 27 to August 1, with the university surveying 1,125 voters nationwide via telephone calls. Twenty-six percent said they viewed Trump as a levelheaded person, while 71 percent say they consider him unstable.
    Microsoft Announces a Trio of Slick New Xbox One Controller Designs

    Microsoft Announces a Trio of Slick New Xbox One Controller Designs

    One of the major critiques of the adapter's first revision was its form factor - protruding three inches from a USB port. The Volcano Shadow Special Edition is the latest in the Shadow Series line that Microsoft introduced previous year .
  • 'The Dark Tower' review: Incoherent to all but Stephen King fans

    'The Dark Tower' review: Incoherent to all but Stephen King fans

    Howard reportedly offered Arcel input on the music while co-writer and producer Akiva Goldsman helped the craft the final film . Take the Dark Tower of the title for example, a curiously wilted edifice that supposedly determines the fate of the universe.
    IL  parents prepare for 1st day of school amid funding formula friction

    IL parents prepare for 1st day of school amid funding formula friction

    Andersson, who joined other legislators in overriding Rauner's budget veto , said he would not vote to override a veto of SB1. Within 24 hours of the bill's release, the Governor issued his promised amendatory veto to advance this bill.
    Usain Bolt: the fastest man who has ever lived

    Usain Bolt: the fastest man who has ever lived

    Bolt said: 'Hopefully athletes will see what's going on and understand that if they don't stop what they're doing the sport will die.
  • Neymar Gives Press Conference After Decision on His Transfer to PSG

    Neymar Gives Press Conference After Decision on His Transfer to PSG

    Neymar has the consolation of being well-compensated by his new team, to the tune of more than half a million dollars a week. And Neymar , used to playing in the comforting shadow of Messi at Barcelona , now will be his team's unquestioned superstar.

    India's central bank cuts key lending rate to 6 percent

    As a result, the RBI said it wanted more confidence that inflation would move "close to 4 percent on a durable basis". The Committee was formed during a year ago on the lines of Federal Open Market Committee in the US.
    Germany urges United States to talk to European Union  about Russian Federation  sanctions

    Germany urges United States to talk to European Union about Russian Federation sanctions

    Berlin will use this opportunity to influence the White House decision and hopes that there is still time until U.S. President Donald Trump finally determines how he will strengthen sanctions against Russian Federation .
  • Fire breaks out at Dubai residential tower

    Fire breaks out at Dubai residential tower

    The resident said a lot of people got out of the building but added that it was unclear if there were people still trapped inside. A statement from the Dubai Media Office said: "The fire at the Torch Tower has been brought under control".
    Hundreds gather to remember victims of Minneapolis school explosion

    Hundreds gather to remember victims of Minneapolis school explosion

    He says crews are searching for others who might be trapped in the rubble, including three people who are unaccounted for. The explosion only affected the upper school, officials said; the lower school is several miles away and is undamaged.
    Qatar Airways ditches plan to buy American Airlines stake

    Qatar Airways ditches plan to buy American Airlines stake

    American Airlines last week reported a 15.5% drop in second-quarter profit on higher fuel and labor costs. The carrier, however, said they would continue looking for ways to expand their US investment portfolio.

Guilty: 'Pharma Bro' Martin Shkreli Convicted Of Securities Fraud Guilty: 'Pharma Bro' Martin Shkreli Convicted Of Securities Fraud The Friday decision ends five days of jury deliberations after a five-week trial in federal court in Brooklyn. His defense argued that Shkreli did not have "fraudulent intent" to rip off investors.

Senior director Ezra Cohen-Watnick out of National Security Council Senior director Ezra Cohen-Watnick out of National Security Council Earlier this year, Cohen-Watnick came under scrutiny for his alleged roundabout role in providing information to GOP Rep. The president has publicly asked why the United States should still be in Afghanistan after almost 16 years.

NBA Live 18 Adds the WNBA, Watch the New Trailer NBA Live 18 Adds the WNBA, Watch the New Trailer NBA Live 18 will be the very first video game in history to feature official WNBA players and teams, EA Sports announced today. FIFA2016 added 12 women's soccer national teams, including the US , to the game in 2015.

Solar eclipse 2017: How to make sure your eclipse glasses are safe Solar eclipse 2017: How to make sure your eclipse glasses are safe Cantore and Abrams will anchor live coverage of the eclipse as it crosses the country over the course of the day. The project, called Eclipse America , also has an entire website dedicated to learning about the event.

Michael Alan Spencer Acquires 419169 Shares of NEX Group PLC (NXG) Stock Michael Alan Spencer Acquires 419169 Shares of NEX Group PLC (NXG) Stock Beaufort Securities maintained Pets at Home Group PLC (LON:PETS) on Thursday, January 21 with "Buy" rating. Pets at Home Group PLC (LON:PETS) traded down 0.62% during midday trading on Tuesday, reaching GBX 160.80.

These Republicans Could Challenge Trump In 2020 Presidential Election These Republicans Could Challenge Trump In 2020 Presidential Election Our recent book, Asymmetric Politics, explains why the GOP can not easily be diverted from its conservative path. But Flake admitted that such techniques were "a monumental dodge" and compared the situation to a biblical flood.

Trump, senators unveil bill to slash legal immigration to US Trump, senators unveil bill to slash legal immigration to US On Wednesday afternoon, Donald Trump unveiled controversial legislation aimed at reducing legal immigration in the United States. Senator David Perdue said that the proposal was partially formulated based on immigration policies in Canada and Australia.

Asus ZenFone 4 Launch Set for August 17, Dual Camera Setup Confirmed Asus ZenFone 4 Launch Set for August 17, Dual Camera Setup Confirmed Asus has gradually become a larger player in the smartphone market with the expansion of it budget phones over the past few years. All devices are expected to run the latest version of Android Nougat and will likely see an upgrade to Android O.

Two killed in Portugal beach crash Two killed in Portugal beach crash The plane appeared to have a partly broken left wing, which hung lower than the right wing, Portuguese television pictures showed. Caparica beach was packed with sunbathers when the plane came down in sunny weather, at what is the height of the summer season.

PayPal enables Skype app payments PayPal enables Skype app payments That's why we aim to provide people with choice and flexibility in how they send or receive money. Sending is free as long as you use your PayPal balance or a debit card in the United States.

The RBA signals its discomfort with the rising Australian dollar The RBA signals its discomfort with the rising Australian dollar The Reserve Bank of Australia has unveiled its decision on interest rates following its monthly board meeting. A factor working in the other direction is increased competition from new entrants in the retail industry.

GM, Fiat Chrysler July sales plunge as U.S. auto slump persists GM, Fiat Chrysler July sales plunge as U.S.  auto slump persists Ford also cut fleet sales by 26 percent, and had to stop sales of its Transit commercial van for a few weeks for a recall. Ford's sales excluding heavy trucks declined 7.4 percent, as passenger-car deliveries dropped 19 percent.

Radeon RX Vega is AMD's return to high-end GPUs Radeon RX Vega is AMD's return to high-end GPUs The WX 9100 has 16 GB of 945 MHz HBM2 ECC memory on the same package as the GPU core, providing up to 484 GB/s of bandwidth. Vega will come in a number of different variants including the vega 64 and 56 which will be released later this month.

Bitcoin Avoided a Fork with One "Awesome" "Positive Change" Bitcoin Avoided a Fork with One But some digital currency exchange operators- including Coinbase and Bitstamp - have said they won't support Bitcoin Cash . Coinbase's decision against supporting the new version, however, means its customers will not receive this benefit.

Tragic Baby Deaths in 2 Days in Phoenix Tragic Baby Deaths in 2 Days in Phoenix One day earlier, on Friday, seven-month-old Zane Endress died after being left alone in a auto on the northeast side of Phoenix. Phoenix fire responded to the area of 28th Street and Broadway Road after receiving reports about an injured child.