Toyota Motor Corporation and BMW Group revealed that they have entered into a memorandum of understanding with regards to a partnership on a mid-to-long term basis on developing the next generation of technologies that are environment friendly. Specifically, the two automakers will undergo shared research in the area related to lithium-ion battery.
In addition, the two have also agreed that they will discuss and identify potential collaborative undertakings in the future. President Akio Toyoda, representing Toyota Motor, shared that Toyota is excited to enter into this agreement with BMW as the latter has long been known to create fun-to-drive cars as well as having its own culture and history through many years of manufacturing experience in Europe.
He added by saying that in the spirit of not only advancing development in the auto industry but of society as well, the two companies will utilize their wide experience and bring it to the table in order to create better cars. This undertaking will start with the development of technologies that are friendly to the environment.
Meanwhile, BMW AG’s Chairman of the Board of Management Norbert Reithofer remarked that while the company has been known to make the most sustainable and advanced premium cars, Toyota has long been recognized to offer environment friendly technologies in the volume segment series.
With this agreement, he continued, the two companies will be jointly developing such technology while at the same time expanding their leadership in their particular classes when it comes to innovation.
The company has long planned to expand the sales activities for its powertrain system and engines and to supply Toyota with the brand’s dynamic and fuel efficient diesel engines as a significant step in attaining that end, Reithofer added. Aside from this agreement, Toyota Motor’s subsidiary in Europe, Toyota Motor Europe, also entered into a contract with BMW.
Under this arrangement, BMW, starting in 2014, will be supplying Toyota Europe with the 1.6-liter diesel engine and the 2.0-liter diesel engine. These engines are to be fitted inside selected models from Toyota that are to be sold in the European market.
With this, Toyota hopes that it will be able to expand its line-up in Europe as well as be able to sell diesel-powered cars that are both fuel efficient and that display low CO2 emissions.