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Toyota and Mazda want some of that sweet electric car action

In a bold move to remind consumers that it still exists, Mazda has teamed up with the world’s second-largest car manufacturer, Toyota, to build a $1.6 billion assembly plant somewhere in the United States, according to Reuters. The two carmakers will also join forces to develop a new line of electric cars. While Toyota has dominated the hybrid car market in the U.S. for years thanks to sales of the Prius, Mazda hasn’t really dented the electric-car market yet. This collaboration could change that, especially if they were able to create some sort of rival for Tesla’s Model 3. As CBS News notes, Japanese rival Nissan is already the leader in the global electric car market, and Mazda probably wants to catch up. To make their Voltron-like collaboration complete, the two will take small stakes in each other as part of the tie-up with Toyota getting a 5% share of Mazda, and Mazda taking a puny 0.25% share of Toyota.

President Trump is already applauding the deal, even though he doesn’t believe in climate change, which many believe is the main driver behind the growth of the electric car industry.

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