Japanese rivals in talks
Already, Mazda produces the Toyota Yaris for Toyota USA in Mexico, but more North American teamwork could be on the cards, including the possibility of the brands building an all-new shared production facility in the U.S.
The top two selling car brands in Australia are reportedly close to signing off on a deal, that’s according to Automotive News.
The U.S. publication says the partnership could also stretch to a possible collaboration over electric vehicle technology.
It’s believed Toyota would purchase a 5% stake in its rival, and Mazda would also become a shareholder in its Japanese counterpart.
A deal could be announced as soon as today.
“We intend to submit a proposal to our board of directors today regarding the partnership with Mazda, however, we would like to refrain from providing further comment at this time.” Toyota said in a statement.
There’s no word that there will be any collaboration in regards to Australian operations, or any Australian models.
We’ll bring you more as further details come to hand.