BMW Group and Toyota Motor Corporation have strengthened the existing collaboration between them, through a memorandum of understanding (MoU).
The two companies originally announced their cooperation in December 2011. That move has been cemented through projects such as collaborative research into next-generation lithium-ion batteries as well as BMW supplying Toyota with diesel powertrains from 2014.
This further MoU, which will see the two develop collaborations 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.
“We aim to further strengthen our competitive position in sustainable future technologies. We signed an MoU to this effect today,” said Norbert Reithofer, chairman of the board of management of BMW AG. “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,” added Akio Toyoda, president of Toyota Motor Corporation. “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 addition to the MoU, Reithofer and Toyoda also signed a Joint Statement to reconfirm their companies’ shared intention to strengthen the long-term, strategic collaboration between them.