BMW and Toyota have signed a Memorandum of Understanding (MoU) aimed at long-term strategic collaboration in four fields: joint development of a fuel cell system, joint development of architecture and components for a future sports vehicle, collaboration on powertrain electrification and joint research and development on lightweight technologies.
Norbert Reithofer, chairman of the Board of Management of BMW AG 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."
Akio Toyoda, president of Toyota Motor Corporation (TMC), 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. I am excited to think of the cars that will result from this relationship."
In March 2012, the BMW Group and TMC signed a binding agreement on collaborative research in the field of next-generation lithium-ion battery cells. In addition, the BMW Group and Toyota Motor Europe entered into a contract under which the BMW Group will supply highly-efficient 1.6 litre and 2.0 litre diesel engines to Toyota Motor Europe, starting in 2014.
The MoU represents the companies' agreement in December last year to identify and discuss other possible collaborative projects.
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