Staff Writer - CheersandGears.com
June 29, 2012
Today, BMW and Toyota unveiled more of their plans from their partnership announced last December. The plans include development of a hydrogen fuel-cell system, collaboration on electric powertrains, work on lightweight technologies, and development of a new sports car.
"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," said Norbert Reithofer, BMW's Chairman of the Board.
"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," said Akio Toyoda, President of Toyota.
This has people wondering what this partnership could bring. The obvious benefits include better range and faster charging times for EVs, lighter vehicles, and the possibility of more hydrogen vehicles.
Also, the sports car announcement has a lot of people guessing. So far, we've heard everything from a resurrection of the Toyota Supra to a competitor to take on the Acura NSX.
William Maley is a staff writer for Cheers & Gears. He can be reached at email@example.com or you can follow him on twitter at @realmudmonster.
Press Release is on Page 2
BMW Group and Toyota Motor Corporation agree to further strengthen collaboration
Companies sign MoU aimed at collaboration in four fields of technology
Tokyo/Munich. Akio Toyoda, President of Toyota Motor Corporation (TMC), met today with Norbert Reithofer, Chairman of the Board of Management of BMW AG, at BMW Group headquarters in Munich to announce the planned expansion of their existing cooperation initiated in December last year. The two companies 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.
Also today, Norbert Reithofer and Akio Toyoda of TMC both signed a Joint Statement to reconfirm their companies' shared intention to strengthen the long-term, strategic collaboration between them.
Reithofer said: "We aim to further strengthen our competitive position in sustainable future technologies. We signed an MoU to this effect today. 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."
Toyoda 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.
Today's MoU represents the companies' agreement in December last year to identify and discuss other possible collaborative projects.