Toyota, Mazda announce $1.6b plant

MONTGOMERY, Jan 11 (Reuters): Toyota Motor Corp and Mazda Motor Corp said on Wednesday they will build a $1.6 billion joint assembly plant in Alabama that will employ up to 4,000 workers, a boost for President Donald Trump, who wants automakers to expand US production.

Toyota President Akio Toyoda and Mazda Chief Executive Officer Masamichi Kogai joined Alabama Governor Kay Ivey in Montgomery at an event to announce the decision.

"Welcome to sweet home Alabama," Ivey said to the two executives, after saying the anticipated 4,000 workers at the plant to be built in Huntsville would earn an average of $50,000 a year.

The plant will produce 300,000 vehicles a year and should open on a 2,500-acre former cotton field in 2021, about 14 miles from Toyota's engine plant in Huntsville. Trump tweeted Wednesday night that the announcement was "Good news" for the US economy. "Companies are coming back to the US in a very big way. Congratulations Alabama!" he wrote.