BMW Group and Toyota
Motor Corporation agree to further strengthen collaboration
Tokyo/Munich - Akio
Toyoda, President of Toyota Motor Corporation (TMC), met 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.
