TOKYO -- Mazda Motor Corp. will produce a subcompact vehicle for Toyota Motor Corp. at its new Mexican assembly plant starting in 2015, as the carmakers seek ways to boost North American output.
The Toyota vehicle will be a rebadged version of the Mazda2 targeting the U.S., Canadian and Mexican markets.
Production will start in the summer of 2015 at an annual pace of 50,000 vehicles, the companies said in a statement today.
The volume would come on top of the 140,000 capacity already planned for Mazda vehicles at the plant, Mazda spokesman Greg Young said. Mazda's factory, in Salamanca, is scheduled to open in 2014 and build the Mazda2 and Mazda3 small sedans.
Toyota will share the cost of increasing the plant's capacity, Toyota spokesman Dion Corbett said separately. He declined to say how much the investment would be.