Wednesday, 4th July 2012
In Business In Japan,
Toyota and BMW strengthen fuel cell partnership
Toyota Motor Company (TMC) has entered into a long-term strategic partnership with BMW that will see the two car manufacturers work together to develop pioneering new technologies.
Following an initial agreement last year, the Japanese carmaker has signed a Memorandum of Understanding (MoU) with its German rival setting out the terms of their collaboration.
Under the agreement, they have committed to work together in the development of a new fuel cell system.
The MoU also sets out collaboration on a futuristic sports car and the development of lightweight technologies.
Akio Toyoda, the president and chief executive officer of TMC, said that mutual respect between the two companies would help them develop even-better vehicles.
"Toyota is strong in environment-friendly hybrids and fuel cells. On the other hand, I believe BMW’s strength is in developing sports cars," he said.
"I am excited to think of the cars that will result from this relationship."
Written by Graham McPherson