German company BMW and Japan’s Toyota have signed a long term ‘Memorandum of Understanding’ which will see the companies collaborate to develop a new fuel cell system, architecture and components for a future sports vehicle, powertrain electrification, and lightweight technologies.
BMW said:
“We aim to further strengthen our competitive position in sustainable future technologies. Toyota and the BMW Group share the same strategic vision of sustainable individual future mobility. Together we have a great opportunity to continue leading our industry through this transformation.”
Toyota added:
“BMW and Toyota both want to make ever-better cars. We respect each other. And I think this is shown by our taking the next step only six months since the signing of our initial agreement. Toyota is strong in environment-friendly hybrids and fuel cells. On the other hand, I believe BMW’s strength is in developing sports cars.”
The agreement builds on a March 2012 accord in which the companies agreed to collaborate on lithium-ion battery cells. BMW will also, from 2014, supply efficient diesel engines to Toyota.
