ibusinesslines.com
ibusinesslines.com October 22, 2018


Alabama 1 of 2 states in running to land Toyota, Mazda plant

15 November 2017, 12:13 | Justin Tyler

North Carolina states still in the running for Toyota Mazda plant A Toyota sign located at a dealership in Atlanta Georgia

North Carolina states still in the running for Toyota Mazda plant	 	 	 		 A Toyota sign located at a dealership in Atlanta Georgia

According to news Agency Reuters, which cites its own sources in the company Toyota, the new plant of the joint venture Toyota-Mazda will be built in Alabama, or in the territory of North Carolina.

The chances for Alabama to be the new home of a $1.6 billion joint auto factory appear to be increasing, according to a new report.

Toyota confirmed in August that the plans for the $1.6 billion joint vehicle factory will have an annual capacity of 300,000 units and create around 4,000 jobs for the area that is chosen.

Toyota President Akio Toyota and his Mazda counterpart Kogai announce their alliance.

Tennessee, Texas, and SC were among the more than dozen states linked to the factory.


Unsurprisingly, the price to land a new automotive plant is steep. Toyota and Mazda are angling to receive an incentive package of at least $1 billion for the upcoming plant estimated to carry a value of $1.6 billion.

CBS North Carolina will update this story as it develops.

By the time the plant opens in 2021, parts suppliers and other support operations would likely set up shop nearby, bringing more jobs.

In October, Toyota reduced the size of its initial investment in a new plant in Mexico. Mazda, which imports all the models it sells in the US, plans to produce crossovers alongside Toyota Corolla compact cars at the new plant. Mazda executive vice president Akira Marumoto told reporters that the automakers will announce a final decision on the plant location by early next year.



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