Donald Trump Tweets About Proposed Manufacturing Plants By Toyota-Mazda, Foxconn

Donald Trump Tweets About Proposed Manufacturing Plants By Toyota-Mazda, Foxconn

Automobile manufacturing rivals Toyota Motor Corp and Mazda will announce plans on Friday to build a new assembly plant in a yet-undisclosed location in the US in a new joint venture between the automobile giants. The plant will have a total capacity to produce 300,000 vehicles a year, to be divided evenly between the two partners, and will employ up to 4000 people. The plant is scheduled to become operational in 2021.

The plant is expected to build Toyota Corolla cars and utility vehicles for Mazda and comes at a time of a very public push by the Trump administration to bring manufacturing jobs back to the US shores. The Japanese automaker is also planning to acquire a 5 percent stake in Mazda in order to help develop electric car tech as well as for the joint venture in the US. The two companies had entered into an agreement in May 2015 for working on joint collaborations.

Trump took to tweeting about the impending announcement, saying “Toyota & Mazda to build a new $1.6B plant here in the U.S.A. and create 4K new American jobs. A great investment in American manufacturing.”

Trump followed up the tweet with another about the recently unveiled plans of the Taiwanese electronics giant and major supplier of Apple iPhones and other products FoxConn to build a new LCD plant in the US, amounting to an investment of about $10 billion. The plant will be built in Wisconsin, and will employ about 13,000 people upon completion, and will be building display panels for TVs and other electronic devices. However, the deal also requires the state of Wisconsin to pass legislation allowing for upto $3 billion in subsidies from taxpayer money. This figure is many times over any previous subsidy the state has provided. The political victory, as well as the risk, is Donald Trump’s, as well as that of Wisconsin governor Scott Walker and House Speaker Paul Ryan, whose district in southeastern Wisconsin will house the proposed plant.



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