Toyota has entered into a deal with Mazda that'll see the auto companies work together on electric vehicles. A joint $1.6 billion assembly plant is in the works and it'll be located in the United States. That facility will be focused on EVs. A location hasn't been specified.
Along with working together on the facility, Toyota is receiving a 5% stake in Mazda through this deal.
Once the assembly plant is up and running, it'll provide jobs for around 4,000 people and it'll produce about 300,000 vehicles per year.
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