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.
“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.”
“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.