Trump lauds Toyota, Mazda $1.6bn US car plant

US President Donald Trump says Toyota and Mazda will build a new $1.6B plant

President Donald Trump has lauded car manufacturing companies Toyota and Mazda for setting up “a great investment in American manufacturing”.

Announcing the latest manufacturing investment on Twitter, Trump wrote: “Toyota & Mazda to build a new $1.6B plant here in the U.S.A. and create 4K new American jobs. A great investment in American manufacturing!”

Japanese car giants Toyota and Mazda have teamed up to invest $1.6bn in a new car plant in the US.

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The two have also agreed to join forces to develop electric car technology. Toyota is to take a 5% stake in Mazda, while Mazda will also invest in Toyota.

Toyota & Mazda to build a new $1.6B plant here in the U.S.A. and create 4K new American jobs. A great investment in American manufacturing!

— Donald J. Trump (@realDonaldTrump) August 4, 2017

The new US plant aims to produce 300,000 vehicles a year and expects to employ about 4,000 people.

Earlier this year, Mr Trump had said Toyota would face hefty tariffs on cars built in Mexico for the US market if they were made south of the border.

The new plant will produce Toyota Corollas and a new Mazda SUV crossover.

The companies hope to be able to start production in 2021.