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Business

New joint venture firms Toyota's commitment to the US

North America soon to boast production capacity second only to Japan

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This Toyota plant in Huntsville, Alabama, is one of the Japanese automaker's four vehicle assembly factories in the U.S.   © Reuters

NAGOYA, Japan Toyota Motor is big on the U.S. The Japanese automaker will partner with Mazda Motor to build its first new U.S. car factory in a decade, strengthening its commitment to its most important market.

The $1.6 billion plant -- the cost of which will be split evenly by the two -- is slated for completion in 2021 and will create up to 4,000 new jobs. Toyota will produce its Corolla there while Mazda will manufacture sport utility vehicles. Total annual output capacity is estimated at 300,000 units.

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