“Toyota Motor Co. will take a stake in rival Mazda Motor Corp., the companies confirmed Friday, and jointly invest in a new U.S. production facility that could create 4,000 new jobs,” Martin Baccardax reports for TheStreet. “Japan’s Nikkei news organization first reported Friday that Toyota is planning to take a 5% stake in Mazda as part of a previously-stated plan to develop clean-energy and self-driving vehicle technologiesThe two groups confirmed the purchase and said they would combine to invest in a U.S. plant under a cooperation agreement the two groups first revealed in May 2015.”
“The $1.6 billion facility, when completed in 2021, will employ around 4,000 people and be capable of producing as many as 300,000 cars a year, the companies said,” Baccardax reports. “The Toyota/Mazda investment would be the latest in a series of high-profile job creation announcements since President Donald Trump was elected late last year, the most recent coming last month when Taiwan’s Foxconn, one of the most important suppliers to Apple Inc., said it would invest $10 billion over four years to build a new LCD flat panel display plant in Wisconsin and hire as many as 13,000 people.”
Toyota & Mazda to build a new $1.6B plant here in the U.S.A. and create 4K new American jobs. A great investment in American manufacturing!
— Donald J. Trump (@realDonaldTrump) August 4, 2017
Baccardax reports, “The reports come ahead of a joint Toyota/Mazda webcast, slated for 6 am eastern Friday, after the world’s second-biggest carmaker posted better-than-expected first quarter earnings and boosted its full-year profit outlook.”
Read more in the full article here.
MacDailyNews Take: Wonder where?
Foxconn considering a second Wisconsin facility – August 3, 2017
Apple CEO Tim Cook dodges question of whether he promised President Trump three big, beautiful U.S. factories – August 2, 2017
President Trump announces Apple supplier Foxconn’s $10 billion investment in Wisconsin and up to 13,000 jobs – July 27, 2017
President Trump to announce Apple-supplier Foxconn manufacturing plant in Wisconsin today at 5pm EDT – July 26, 2017
President Trump says Apple CEO Tim Cook has promised 3 ‘big, beautiful’ manufacturing plants in the U.S. – July 25, 2017
China Premier Li visits Apple supplier Foxconn after CEO’s meeting with President Trump – May 10, 2017
Apple’s top manufacturing partner to meet with U.S. President Trump today – April 27, 2017
Apple supplier Sharp may begin building $7 billion U.S. plant in within months as Japan PM meets President Trump – February 8, 2017
Make America Insanely Great Again: Apple seeks to expand Made in USA manufacturing – January 9, 2017
Apple invests $1 billion in SoftBank’s massive tech fund; may help company get in President Trump’s good graces – January 4, 2017
Softbank to invest $50 billion in the U.S., create 50,000 new tech jobs after meeting with President-elect Trump – and Apple supplier Foxconn is in on the deal – December 6, 2016
President-elect Trump invites tech leaders to roundtable in Manhattan next week – December 6, 2016
President-elect Trump tells Apple CEO Tim Cook that he’d like to see Apple make products in the U.S. – November 23, 2016
President-elect Trump says Apple CEO Tim Cook called him after election victory – November 22, 2016
Apple could make iPhones in the U.S.A. under President Trump, sources say – November 17, 2016
Japan’s Softbank just became one of Apple’s most important suppliers – July 18, 2016