Toyota Motor Corp (7203.T) and rival Mazda Motor Corp are expected to announce plans on Friday to build a $1.6 billion U.S assembly plant as part of a new joint venture, a person briefed on the matter said.
The plant will be capable of producing 300,000 vehicles a year, with production divided between the two automakers, and will employ about 4,000 people when it opens in 2021, the person said.
A new auto plant would be a major boost to U.S. President Donald Trump, who campaigned on promises to increase manufacturing and expand employment for American autoworkers.
Reference: Reuters
Read More: http://www.reuters.com/
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