Toyota Motor (TM, -1.28%) and rival Mazda Motor (MZDAY, +4.48%) are expected to announce plans on Friday to build a $1.6 billion U.S assembly plant as part of a new joint venture, a person briefed on the matter said.
The plant will be capable of producing 300,000 vehicles a year, with production divided between the two automakers, and employ about 4,000 people when it opens in 2021, the person said on Thursday.
A new auto plant would be a major boost to U.S. President Donald Trump, who campaigned on promises to boost manufacturing and expand employment for American autoworkers.
