Tuesday, December 6, 2011

BMW, Toyota set to collaborate on technology

 BMW and Toyota have signed a memorandum of understanding involving a medi-to-long-term collaboration on next-generation environment-friendly technologies. Under the agreement, which has been finalized yet, the two companies agreed on a collaborative research in the field of next-generation lithium-ion battery technologies.
In addition, Toyota Motor Europe and BMW Group have entered into a contract under which BMW Group will supply 1.6 liter and 2.0 liter diesel engines to TME starting in 2014. The engines will be installed in certain Toyota-produced vehicles planned for sale in the European market. Through this agreement, Toyota plans to expand its European lineup and sales of fuel-efficient, low CO2-emission diesel-powered vehicles. Other targets for the collaboration haven't been identified yet, Toyota and BMW officials said.
 Norbert Reithofer, Chairman of the Board of Management of BMW AG, noted the agreement with Toyota represented an important strategic step for BMW.   “Toyota is the leading provider of environment-friendly series technology in the volume segment and the BMW Group is the most innovative and sustainable manufacturer of premium automobiles. We are now joining forces to further develop environment-friendly technologies and to expand our innovation leadership in each of our segments. Supplying Toyota with our fuel efficient and dynamic diesel engines represents another important step in the planned expansion of our sales activities for engines and powertrain systems,” Reithofer said.
  Toyota president Akio Toyoda haild the agreement.  “In the spirit of contributing to furthering the development of the auto industry and society, both companies will bring their wide-ranging knowledge - starting with that concerning environmental technologies - to the table and make ever-better cars,” Toyoda said. By Joseph Szczesny


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