BMW Group and Toyota Motor Corporation Agree to Further Strengthen Collaboration

29 Jun 2012

ToyotaBMW

Akio Toyoda, President of Toyota Motor Corporation (TMC), met today with Norbert Reithofer, Chairman of the Board of Management of BMW AG, at the 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 a 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.

Toyoda said: "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."

Source: Toyota Motor Corporation


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