Toyota and Mazda Announce Joint Venture in USA
Toyota and Mazda are about to shake up the American car scene by joining hands in a team venture. The two Japanese car companies plan to open an automobile assembly plant in America where they will build the Toyota Corolla and a new Mazda crossover utility vehicle. The Corolla is Toyota's compact sedan. The unknown Mazda crossover might be similar to the previously discontinued Toyota Venza, which is an awesome vehicle.
This is a major capital-investment deal which shows Toyota taking small shares in Mazda and vice versa. They'll essentially invest in each others product and then team up to improve safety, electric car technology, and even connected/smart car features.
In a joint statement released at a press conference held this morning in Japan, the companies said:
Toyota Motor Corporation (Toyota) and Mazda Motor Corporation (Mazda) signed an agreement today to enter a business and capital alliance, with the aim of further strengthening their lasting partnership.
Today’s agreement is a testament to the positive result of two years of collaborative and deliberate discussions between the two companies, and it is a milestone in the journey to further strengthen and accelerate the partnership in a sustainable way.
My wife and I both have owned Toyota and Mazda vehicles for years. I've owned a Camry and two Venza's. I traded my first Venza in for an upgraded model and a different color. She owned a Mazda 3 and recently purchased a Rav4. Her Mazda 3 lasted 80k miles and still ran perfectly fine, but it lacked all the cool technology that we have today. She upgraded to get the backup camera, navigation, and modern safety features. My Venza is pushing 50k miles and it still feels like the day I bought it.
Having Mazda and Toyota team up could yield us some very nice cars in the next few years. If they put all their amazing ideas and technology together, then who knows how amazing the cars could be in the future. Or, they could bump heads and things could get ugly.
The production plant location for their teamwork has not been announced yet, but it's rumored to be located in the Southern section of America.
Full details have not emerged yet. They might just share a building and build cars separately. Or maybe they'll work together on a few things.
Considering they're investing in each other's shares, then maybe working together to build the best possible vehicles for everyone is the way to go.
The teamwork with Mazda and Toyota cou create thousands of jobs for Americans, which is a great thing!