Fear of falling behind in the growing global market for electric vehicles amid stricter regulation of emissions was apparently the impetus behind Toyota Motor Corp.'s capital tie-up Friday with Mazda Motor Corp.
Toyota said it will take a 5.05 percent stake in Mazda for ¥50 billion while Mazda will take 0.05 percent stake in Toyota.
Under this relationship, Toyota and Mazda will bolster their operations in the United States, their biggest market, and invest $1.6 billion in a new factory and create up to 4,000 new jobs.