05 August, 2017
Toyota's profit slowdown is exacerbated partly by spiraling outlays for such things as higher incentives and ramped up investments in r&d and manufacturing sites.
It is due to begin operations by 2021.
The factory will be used to build Toyota Corollas, and as yet un-named Mazda SUV crossover vehicle. Also, they have extended their dominance in Japan's auto sector, while, Mazda will take a 0.25% share of its larger rival, Toyota. Toyoda denied that Trump's views influenced his decision.
Meanwhile, Mazda now has no production facilities in the USA, but has previously operated factories in Kansas and MI, one of the Midwestern, rustbelt states Trump promised to return to prosperity during his presidential campaign.
Mazda plans to build new crossover vehicles for the USA market at the plant, while Toyota will produce its Corolla model there. "A great investment in American manufacturing!".
HTC has announced a standalone VIVE VR headset, exclusive to China
We do know that the Chinese version lacks the Google WorldSense tech that the standalone coming to the USA will boast. As is the case with all tethered headsets, it requires a powerful PC setup to function.
A new Toyota assembly plant will provide 4,000 new jobs as part of a $10 billion investment in the U.S. over the next five years, according to the Japanese automaker.
Toyota had previously planned to build the new Corolla at a proposed factory in Mexico.
In addition to the new factory in the USA, the automakers said they would collaborate on safety and technology for electric vehicles. Toyota, the second largest maker of autos in the world by vehicle sales in 2016, will hold a share of 5% in Mazda, extending the dominance it has in the auto sector of Japan.
Toyota posted an operating profit of 574.29 billion yen for April-June, down 11 percent from 642.23 billion yen a year ago.
"It has also sparked Toyota's competitive spirit, increasing our sense of not wanting to be bested by Mazda". Mazda has not made cars in the US since a joint partnership with Ford ended. The company's vast success and influence gives its management the feeling that it's obliged to help its compatriots, particularly the relative minnows, strengthening the Japanese vehicle industry as a whole in the process.
Mazda will gain from this deal that allows the smaller automaker a foothold in production in the USA, as it now ships every vehicle sold in the U.S.to that country, its largest market, from Mexico and Japan.