Toyota and Mazda have announced a partnership to produce a new vehicle for the North American market. Mazda will manufacture the subcompact vehicle, based on the Mazda 2 (pictured), at its Guanajuato State, Mexico plant which is currently under construction. The car will wear a Toyota badge and be sold through Toyota dealerships.

Production of this new car is due to start around the summer of 2015 at a rate of 50,000 units per year. Toyota has invested an appropriate portion in equipment and development costs for the Toyota vehicle, as well as costs related to the jump in the plant’s production capacity.

We wonder what this means for the Toyota Yaris, which currently serves as Toyota’s B-segment offering in the USA. This cooperation between Toyota and Mazda also seems to have happened rather out of the blue.

In addition to the production for Toyota, Mazda aims to turn out 140,000 units of the Mazda 2 and Mazda 3 per year at this plant. Production is scheduled to begin within the fiscal year ending March 2014.

The agreement should see Toyota strengthening its North American line-up and Mazda increasing profitability and production efficiency. Mazda recently exited the AutoAlliance International plant in Flat Rock, Michigan, ending 20 years of US production.