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Toyota forming capital alliance with Mazda

Joint American SUV plant, electric vehicle development in the works

Japan's Toyota Motor and Mazda Motor are likely to go beyond a previous partnership via mutual investment.

NAGOYA, Japan -- Toyota Motor and Mazda Motor are closing in on a capital partnership deal to pave the way for possible establishment of a joint-venture U.S. auto plant and joint development of key electric vehicle technologies, The Nikkei learned Thursday.

The two Japanese automakers are negotiating on the premise that Toyota will take a roughly 5% stake in Mazda, which in turn would invest in the other party as well. They will announce the tie-up as soon as Friday.

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