Toyota takes stake in Mazda, invests more in self-driving and AI

05 August, 2017, 00:22 | Author: Celia Hoffman
  • Georgetown Kentucky Toyota Plant

Toyota has been forging alliances with domestic rivals in an effort to boost competitiveness. The plant is structured to build 170,000 vehicles a year but has built as many as 190,000.

Also Friday, Toyota - which lost its crown as the world's top-selling automaker in 2016 to German giant Volkswagen - said its latest quarterly net profit jumped 11 percent to $5.6 billion with vehicle sales up in Japan and the U.S., while it also lifted its annual earnings forecast. Corolla production also is done at a plant in Canada.

Toyota, which makes the Prius hybrid, Camry sedan and Lexus luxury models, sold 2.2 million vehicles for the quarter, an improvement of 42,000 vehicles on-year.

The two firms are also planning a joint venture to build a shared $1.6bn (£1.22bn) factory in the USA with the capacity to produce 300,000 cars per year. Toyota also has plants in Indiana, Kentucky and Texas.

The site of the new $1.6 billion U.S. factory is yet to be determined, but it's planned to be an equal venture between Mazda and Toyota. Toyota is racing to keep up with shifts in technology and consumer tastes. But because the new plant will build the Corolla, chances are it will be located near Toyota's current Corolla plant in MS to be close to parts supply companies. It is expected to create up to 4,000 jobs.

"We intend to submit a proposal to our board of directors today regarding the partnership with Mazda, however, we would like to refrain from providing further comment at this time", Toyota said in a statement issued by its USA operations.

Australian cricket pay war finally over
However, it has been confirmed that the players will receive back-pay once the brand new MoU is completed and signed . The most divisive issue in the dispute involved revenue sharing.


Who is Bill Browder?
That changed, he said, when he was expelled from Russian Federation in 2005 after being considered a threat to national security. The 2016 meeting happened after the president's eldest son was offered potentially damaging information about Hillary Clinton .


Britain announces petrol and diesel auto ban
Mr Gove added that outside London there are a "limited number of roads" which have too many diesel vehicles travelling on them. In addition, the 103-page report accompanying yesterday's announcement makes no mention of tractors or other farm vehicles.


Toyota had previously planned to build the new Corolla at a proposed factory in Mexico. There will be no substantial impact on Toyota's investment and employment plan there.

Toyota will acquire about 5 percent in Mazda, which will hold a 0.25 percent in the bigger automaker in a capital tie-up, according to a Japanese regulatory filing.

The electric vehicles cooperation, meanwhile, comes as the tightening of global emissions regulations prompts more automakers to develop battery powered cars, as the industry struggles with hefty research costs and intense competition from technology companies over technology like self-driving cars. That came together with today's announcement.

Toyota President and CEO Akio Toyoda speaks in Tokyo, March 13, 2015.

"Blue Springs is a proven commodity and has shown it's fully capable of building the top-selling vehicle in the world", he said.

Recommended:



Popular

Woman who convinced boyfriend to kill himself faces sentencing
Carter and Roy had met on vacation in Florida through their families, but once both were back in MA , they rarely saw each other. On Wednesday, Roy's aunt Kim Bozzi said Carter should be given 20 years of imprisonment in order to keep her away from society.

Kremlin says Trump signing sanctions 'doesn't change anything'
Three weeks ago, one of President Donald Trump's personal lawyers vigorously denied that the commander in chief had anything to do with.

Lawsuit alleges White House was complicit in Fox News conspiracy peddling
Longtime contributor Rod Wheeler filed the lawsuit against Fox News Channel on Tuesday in the Southern District of NY . A new suit is alleging that Fox News is fake news - and that the President signed off on a story with false quotes.

Kam Chancellor and Seahawks agree to three-year extension
The "Legion of Boom" hit payday early in August, with Kam Chancellor getting a three-year extension from the Seattle Seahawks . The 29 year old is entering his eighth season with the Seahawks , and has amassed 729 tackles and 12 interceptions.

At least 20 killed in explosion inside Shiite mosque
The interior ministry later confirmed that two people - a woman and a guard - had died and two were policemen injured. He said around 30 people had been injured and casualty numbers were likely to rise. "They are both dead", he added.

Amit Shah, Smriti Irani files nomination for Rajya Sabha elections
The retirement of Ahmed Patel (Cong), Dilipbhai Pandya (BJP) and Irani (BJP) - all from Gujarat - is due on August 18. The politicial advisor of Sonia Gandhi , Ahmad Patel is also contesting for Rajya Sabha.

Lady Gaga Served Subpoena To Testify In Kesha-Dr. Luke Legal Battle
What happened to Kesha has happened to many female artists, including myself, and it will affect her for the rest of her life. But despite a welcomed return after a almost four-year hiatus, the pop star can't break away from this battle with Dr.

Trump names new Chief of Staff to replace Reince Priebus
Trump has a thing for generals , and it's not surprising that he gravitates toward Kelly in particular. Those orders have been stripped down by courts pending a Supreme Court review this fall.

Standalone HTC Vive VR Headset Unveiled
Standalone VR headsets differ from the current options on the market in two distinct ways. Graylin said in a statement, according to TechCrunch .

Mobile Moto Z2 Force BOGO offer is live already
The cameras come in at 12MP + 12MP, with one capturing images in color while the other dedicated to monochrome imagery. The body of the device is made out of 7000-series aluminum, and the thinness of the device is really incredible .