Mazda Motor Corporation (TYO: 7267), a Japan-based automaker, is to produce a compact vehicle for Japan-based Toyota Motor Corporation (NYSE: TM) (LSE: TYT) (TYO: 7203) at its new plant in Mexico.
Presently, the facility is under construction and is scheduled to open by March 2014. The automaker will start production of the vehicle in the summer of 2015 at a pace of 50,000 units per annum.
The Toyota-badged model will be based on the Mazda2 compact car. The automaker stated that the vehicle will be sold mainly in the United States, which indicates that some models are likely to be produced for export.
Link to this post!