Toyota and Mazda enter business and capital alliance; $1.6B plant in US, joint development for electric, connected vehicle tech

By mmillikin Toyota Motor Corporation (Toyota) and Mazda Motor Corporation (Mazda) signed an agreement to enter a business and capital alliance, with the aim of further strengthening their partnership. The companies agreed to: 1) establish a joint venture that produces vehicles in the United States; 2) jointly develop technologies for electric vehicles; 3) jointly develop connected-car technology; 4) collaborate on advanced safety technologies; and 5) expand complementary products.

In addition, together with the aim of advancing and strengthening their long-term collaboration, Toyota and Mazda agreed to a capital alliance arrangement that preserves independence and equality for both companies. In the capital tie-up,

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