According to the Nikkei Asian Review, Toyota and Mazda announced that they will establish capital cooperation. In the future, they will jointly establish a joint venture factory in the United States to develop electric vehicle technology.
According to the Nikkei News, the source of the unspecified source said that according to the agreement, Toyota will acquire a stake of Mazda 5 (participating, picture, inquiry), and Mazda will also buy Toyota. The transaction is expected to be officially announced on Friday.
Relevant personnel revealed that Toyota and Mazda will set up a large factory in the United States, but the location of the factory has not yet been determined, but the factory will be mainly responsible for the research and development of electric vehicles. Toyota and Mazda respectively indicated the policy of selling pure electric vehicles in 2020 and 2019. The design and production of commercialized models will be promoted separately.
Mazda refused to respond to the matter, while Toyota said it would seek approval from the board to seek additional cooperation with Mazda, but declined to comment on the establishment.
In his speech, Toyota said: "In May 2015, Toyota signed a memorandum of understanding with Mazda on the core of environmental protection and safety technology to seek cooperation in various fields. We intend to establish cooperation with Mazda today. Submit the application, but at the moment we are unable to respond to the establishment of the factory."
Mazda’s chief director, president and CEO, Xiao Yiya, said at the time that “the capital cooperation with Toyota†was not considered. Mazda now believes that in order to promote medium- and long-term cooperation from development to production in cutting-edge fields such as pure electric vehicles, it is indispensable to strengthen capital links.
The Nikkei News reported that Toyota and Mazda plan to form an assembly plant in the southern United States by establishing a joint venture. The two car companies will jointly produce SUVs at the plant, with an estimated annual production of 300,000 units. Mazda has already started producing Yaris (participation, pictures, inquiry) and Yaris iA for Toyota in Salamanca and Guanajuato, Mexico.
According to the report, the cooperation will help reduce the investment cost of the two factories and share in the production technology field. The two car companies also plan to jointly develop electric vehicle technology. Toyota has already established cooperation with some small competitors in Japan and has effectively enhanced the comprehensive strength of Japanese car companies. Toyota ranked second in the world in sales in 2016 and currently dominates in Japan.
The United States is likely to adopt a protectionist trade policy under the Trump regime. Toyota's local production in the United States reached about 50%, but it was previously accused by Trump for importing cars from Mexico to the United States. Mazda has no factories in the United States and imports from Japan and Mexico to the United States. Once Toyota and Mazda agreed to set up factories in the United States, this is also a very good news for employment in the Midwest and the South.
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