Japanese automakers Toyota Motor Corp. and Mazda Motor Corp. said Friday they plan to spend $1.6 billion to set up a joint-venture auto manufacturing plant in the U.S. -- a move that will create up to 4,000 jobs.
The plant will have an annual production capacity of about 300,000 vehicles, and will produce Toyota Corollas for the North American market. Mazda will make cross-over models there that it plans to introduce to that market, both sides said.
The companies will split the cost for the plant equally.
Toyota said that it changed its plan to make Corollas at a plant in Mexico, now under construction, and instead will produce Tacoma pickups there.
President Donald Trump had criticized Toyota for taking auto production and jobs to Mexico.
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