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BMW and Toyota expand partnership
Date Listed: 04/07/2012
The BMW Group and Toyota Motor Corporation (TMC) have signed a memorandum of understanding which will serve to further their growing partnership; in December 2011 the automotive giants signed a contract under which BMW would supply 1.6 and 2.0 litre engines to Toyota, due to start in 2014. In March of this year the partnership expanded through the signing of an agreement to collaborate on next generation lithium-ion batteries.
June 29th saw the next step in this lucrative alliance as BMW and Toyota formally signed a memorandum of understanding with the intention of collaborating on a number of shared long term ventures. This includes; fuel cell development, joint development of architecture and components for a future sports vehicle, power train electrification and joint research and development into lightweight technologies.
The deal was signed in BMW’s home city of Munich, TMC president Akio Toyoda said: "BMW and Toyota both want to make ever-better cars... 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."
No details have been released regarding the proposed sports car to date.