- Toyota Motor Corp TM and Mazda Motor Corp MZDAY joint venture partnership Mazda Toyota Manufacturing commenced producing the all-new 2022 Corolla Cross.
- MTM is the only North American facility to produce the Corolla Cross.
- MTM is hiring over 1,700 additional employees to join its existing workforce, eventually reaching up to 4,000 once production is in operation next year.
- The plant can produce 300,000 vehicles a year, evenly split between the two nameplates.
- MTM's investment increased to $2.3 billion when the parent companies announced an additional $830 million commitment in the summer of 2020 to incorporate more cutting-edge technologies into its manufacturing processes.
- Price Action: TM shares traded lower by 3.71% at $178.57 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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