BMW and Toyota are reportedly planning to cooperate on research into lithium-ion batteries for electric cars, an inside source told Reuters on Tuesday.
The news comes shortly after reports on Friday about a partnership on „green” vehicles, with BMW expected to provide Toyota with diesel engines. The two carmakers are expected to announce the cooperation at a joint press conference on Thursday in Tokyo, the source said. Neither BMW, nor Toyota commented on the issue. Toyota currently has partnerships with Tesla and Ford to co-develop hybrid trucks. Sources at Toyota said they believed BMW was a good choice as a partner, with corporate cultures that could work well together.
The cooperation between Toyota and BMW will help the two companies find ways to make the lithium-ion batteries lighter and less expensive, with electric cars costing twice as much as conventional cars. Toyota and BMW rivals Nissan Motor Co, Renault and Daimler are already working on various joint projects, sharing engines and other technologies to save on research and development costs that are increasing with the need to meet stricter environmental regulations.
Toyota has said in the past it was willing to share its hybrid technology with rivals and also has plans to supply Mazda Motor Corporation.