Mazda Motor and Sumitomo Corp will jointly spend JPY30 to 40bn (US$355-$475m) to build a car plant in Mexico, which will supply compact cars to Latin America, the Nikkei business daily reported on Tuesday.
Mazda Motor and Sumitomo Corp will jointly spend JPY30 to 40bn (US$355-$475m) to build a car plant in Mexico, which will supply compact cars to Latin America, the Nikkei business daily reported on Tuesday.
Mazda will hold a majority stake in the joint venture which will operate the plant, while the manufacturing facility will start rolling out compact cars in 2013 at a pace of 100,000 units a year, the Nikkei said.
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