Toyota to take 5% stake in Mazda, to jointly build $1.6b US plant

Toyota to take 5% stake in Mazda, to jointly build $1.6b US plant

Akio Toyoda, president of Toyota Motor Corp., left, and Masamichi Kogai, president and chief executive officer of Mazda Motor Corp., shake hands during a news conference in Tokyo, Japan, on Friday, Aug. 4, 2017. Photographer: Kiyoshi Ota/Bloomberg

Toyota Motor Corp. and Mazda Motor Corp. have agreed to buy stakes in each other and jointly build a $1.6 billion U.S. factory, as carmakers band together to share costs and investments in new technology.

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