By Jon LeSage Toyota and Mazda are taking electrified vehicles seriously enough to jointly invest $1.6 billion in a U.S. plant.
Toyota Motor Corp. will also be taking a 5 percent share of Japanese competitor Mazda Motor Corp.
The U.S. location will be named later, but it will have the capacity to produce 300,000 vehicles a year and employ about 4,000 workers. The new plant is scheduled to start operations in 2021.
While never a fan of electric vehicles or foreign companies, President Donald Trump was enthusiastic enough to tweet about the news. It will be a “great investment in American manufacturing,” he posted in Twitter.
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