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August 14, 2020 Comments Off on Mazda-Toyota JV Adds $830M to Huntsville Facility Investment Views: 718 Alabama, National News, Southeast

Mazda-Toyota JV Adds $830M to Huntsville Facility Investment

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Mazda Toyota Manufacturing (MTM), the new joint venture between Mazda Motor Corporation and Toyota Motor Corporation, announced an additional $830 million investment Thursday into its under-construction manufacturing facility in Huntsville, AL. MTM will now put $2.311 billion into the facility, up from the $1.6 billion originally announced in 2018.

The additional investment will bring newer technologies to manufacturing at the facility, the JV said Thursday. The Huntsville plant will have the capacity to produce 150,000 each of a future Mazda crossover vehicle and a yet-to-be-announced Toyota SUV.

Alabama Gov. Kay Ivey said, “Mazda and Toyota’s increased commitment to the development of this manufacturing plant reiterates their belief in the future of manufacturing in America and the potential for the state of Alabama to be an economic leader in the wake of unprecedented economic change.”

JLL assisted with site selection and consulting services for economic incentives for the $830-million investment. 

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