By Adrienne Roberts
Toyota Motor Corp. and Mazda Motor Corp. are expected to announce Friday plans to build a $1.6 billion assembly plant in the U.S. that would create 4,000 jobs and be up and running by 2021, according to a person briefed on the plans.
The new factory’s location hasn’t been decided. Once built, it would produce 300,000 vehicles a year with half being the Toyota Corolla and the rest an unspecified Mazda model, the person said.
The two Japanese car makers also will form a joint venture to co-develop electric vehicles, safety features and connected-car technologies, the person said.
Mazda /zigman2/quotes/204777714/delayed JP:7261 +0.65% had previously operated with Ford Motor Co. /zigman2/quotes/208911460/composite F +2.76% in a joint venture in the U.S. Toyota /zigman2/quotes/203803129/delayed JP:7203 -0.78% /zigman2/quotes/200537742/composite TM +2.29% has worked with Subaru /zigman2/quotes/203522406/delayed JP:7270 +0.85% and others.
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