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Toyota, Mazda to Open Joint Car Factory Worth $1.6B

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Jan. 17, 2018—Toyota Motor Corp. and Mazda Motor Corp are set to partner to open a car factory in Alabama.

The shared factory, which will be located in the Huntsville area, is set to open in 2021 and will be Toyota’s 11th assembly plant in the U.S., its largest market.

The new factory should help Toyota and Mazda hedge currency risks, Bloomberg noted. The automakers have promised to create as many as 4,000 jobs at the facility, which will be capable of making 300,000 vehicles per year. In addition to direct employment, the new factory figures to create thousands of related jobs.

“This is indeed a great day in Alabama,” Gov. Kay Ivey said at an announcement press conference last Wednesday, the New York Times reported.

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