I'll Toyota, Mazda to build $1.6 billion plant in Alabama for $20

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Toyota Motor and Mazda Motor are set to unveil plans for a $1.6 billion assembly plant in Huntsville, Alabama, sources familiar with the matter tell CNBC. That announcement is expected to be made Wednesday afternoon in Alabama. Toyota executives and Alabama Governor Kay Ivey are slated to attend that announcement, sources said. The plant is projected to employ about 4,000 workers and produce approximately 300,000 vehicles a year.