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Mazda NAO CEO Denies Toyota Merger Speculation

Toyota deal is just a deal, CEO says. Despite EV growth, gas engines to stay.

by on Jan.22, 2018

Masahiro Moro, Mazda NAO president and CEO, told a crowd in Detroit that the factory deal with Toyota was not a prelude to a merger.

Mazda’s recent partnership with Toyota to produce EVs at a new plant in Alabama is just that — a partnership. Masahiro Moro, Mazda North America Operations president and CEO, told a crowd that Mazda plans to remain an independent automaker for foreseeable future.

Moro, the company’s top executive discussed Mazda’s future during the Automotive News World Congress in Detroit. He also noted that while electric vehicles and fuel cells are important, Mazda believes it can squeeze substantially more fuel savings from its internal combustion engine during the next decade.

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The automaker does not have an EV or even a hybrid in its U.S. line-up, but the U.S. Environmental Protection Agency has named Mazda as the most fuel-efficient brand in the industry five years in a row, Moro noted.  (more…)