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Toyota and Mazda have formed an Alliance and will work together to develop electric vehicles

Japanese companies Toyota and Mazda signed an agreement on the establishment of the Alliance. They will exchange shares with a total value of 50 billion yen ($454 million).

As reported Motor.ru the agreement provides for the joint development of electric vehicles, as well as the construction of a plant that will produce cars of both brands.

The new plant is scheduled to begin operation in 2021, Mazda and Toyota will own in equal shares. Its capacity will reach 300 thousand cars a year. Investment in the company will amount to 1.6 billion US dollars.

In addition, the Alliance will work towards new multimedia systems and the technologies of communication of machines with each other and infrastructure.

In early June, the Agency Kyodo, citing their own sources reported that Toyota Motor Corp. sold everything she owned shares of the American company Tesla Motors, which manufactures electric cars, and stopped working with her.

According to the news Agency, Toyota has decided to abandon cooperation with Tesla because it has its own program of development of electric vehicles.

— Selling and buying cars in Israel

Toyota and Mazda have formed an Alliance and will work together to develop electric vehicles 05.08.2017

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