Following reports earlier this week, BMW and Toyota have officially confirmed that they will share technologies.
The two parties today signed a memorandum of understanding concerning a mid-to-long-term collaboration on next-generation environment-friendly technologies. BMW and Toyota agreed to collaborate on next-generation lithium-ion battery technologies research and also to identify and discuss other possible collaborative projects. In addition, Toyota Motor Europe will receive from BMW Group 1.6-liter and 2.0-liter diesel engines 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,” reads the joint press release.
BMW CEO Norbert Reithofer said the two automakers are joining forces to expand their innovation leadership. “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,” he said in a statement. Reithofer added that supplying diesel engines to Toyota is another step in BMW’s plans to expand of sales of its engines and powertrain systems.
Toyota CEO Akio Toyoda said: „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.”