BMW and Toyota have announced they will pool their resources to develop green technology – and jointly develop a sports car.
Toyota is obviously the leader in hybrid technology, but is pretty lame when it comes to diesels. Toyota also has done a lot of work on fuel cells, while BMW claims to be the world leader in developing carbon fibre for mass production.
The Chairman of BMW, Norbert Reithofer, said: "We aim to further strengthen our competitive position in sustainable future technologies. We signed an MoU [Memorandum of Understanding] to this effect today. Together we have a great opportunity to continue leading our industry through this transformation."
Akio Toyoda President of Toyota said: "BMW and Toyota both want to make ever-better cars. We respect each other. That is why we already can take the next step together." He went on to say: "Toyota is strong in environment-friendly hybrids and fuel cells ... I believe BMW's strength is developing sports cars. I get so excited thinking about the cars that will result from this relationship."
In March 2012, the BMW Group and Toyota agreed to jointly research the development of next-generation lithium-ion battery cells. In addition, BMW will supply 1.6 litre and 2.0 litre diesel engines to Toyota starting in 2014.