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Toyota, Mazda to build $1.6 billion plant in Alabama

CNBC International 2018-01-10 04:48:33
T.J. Kirkpatrick | Bloomberg | Getty Images Workers complete a truck's engine on the assembly line at the Toyota Motor Corp. manufacturing facility in San Antonio, Texas

Alabama will be the site of a new $1.6 billion Toyota Motor and Mazda Motor auto plant, a victory for President Donald Trump who had prodded manufacturers to build new U.S. facilities and threatened tariffs on foreign production, sources said on Tuesday.

The plant, which will employ up to 4,000 people and produce about 300,000 vehicles a year, will be located in Huntsville, Alabama, and is a boon for the state, where Toyota has a large engine plant and an existing network of automotive suppliers.

A formal announcement by company and state officials is expected on Wednesday in Montgomery, sources briefed on the matter said.