CHICAGO Mazda Motor Corp.s plant in Mexico will manufacture a Toyota Motor Corp.-brand vehicle for sale mainly in North America, the two companies announced.
The subcompact Toyota brand car, which will be based on the Mazda2 platform, will start production in mid-2015 at an annual pace of 50,000 units.
Mazdas Mexican plant, which is currently under construction, is scheduled to start production within the fiscal year ending March 2014. It was originally slated to manufacture 140,000 units per year of Mazda2 and Mazda3 models, the Hiroshima-based company said.
Toyota will invest in the development and production equipment related to the Toyota car and will share a portion of costs related to the plants production capacity increase, the Toyota City, Japan-based company said.
The factory, located in Salamanca, Guanajuato state, will employ roughly 3,000 people, the two automakers said.