Economy

Toyota mulls SUV output at new Mexico plant

Toyota mulls SUV output at new Mexico plant

Currently, Mazda already lends its Mazda2 sedan to Toyota, which is marketed as the Toyota Yaris iA (née Scion iA) in the US.

In that respect the deal resembles the global alliance between Japanese automakers Nissan and Mitsubishi and French automaker Renault. Toyota intends to build the Corolla there, while Mazda will use the new facility to make crossovers. Read on as we explain what it's all about.

The auto manufacturers, which also agreed to buy a stake in each other, also announced that they will jointly develop technologies for electric vehicles that they hope will allow them "to respond quickly to regulations and market trends in each country".

But it is struggling to develop electric vehicles as several countries announce plans to clamp down on petrol and diesel cars.

Toyota said Friday that it would maintain its investment and hiring plans at the Mexico plant.

Other areas of technological collaboration will be infotainment systems and connected auto technologies such as vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication systems. He had threatened Toyota and other vehicle companies for selling cars to American customers that were built elsewhere.

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"Given the massive level of competition in the industry, partnerships are no longer a surprise", said Akshay Anand, an executive analyst at Kelley Blue Book.

Due to be operational in 2021, the plant will build Corollas for Toyota and an SUV for Mazda. American consumers are buying that model in record numbers, while Mazda also is seeing booming demand for its entry in that segment, the CX-5.

From Mazda's point of view, building cars in the United States for the USA will help the brand's growth.

The two companies aim to dodge criticism from the administration of U.S. President Donald Trump, which pledges to reduce huge trade deficits by accelerating domestic production and job creation.

Corolla production in the U.S. should also take some of the sting off the potential import tax for Toyota, too, as it's one of the brand's bestsellers across the pond, alongside the RAV4 and Camry. The value of the shares mutually acquired by both companies will be equivalent. Toyota and Mazda will be 50-50 partners in the new agreement. The capital gained will go towards setting up the joint venture. "NO WAY! Build plant in USA or pay big border tax", Trump tweeted at the time.


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