BMW and Toyota Strike Collaboration Agreement
BMW Group and Toyota Motor Corporation have just signed an agreement that has the potential to alter the current automotive landscape. The two companies are joining forces to advance the art and technology of alternative fuel systems, development platforms and weight saving measures. This official long-term agreement comes after the two entered into a memorandum of understanding in June of 2012.
Norbert Reithofer, Chairman of the Board of Management of BMW AG said: “TMC and the BMW Group share the same strategic vision of future sustainable mobility. In light of the technological changes ahead, the entire automotive industry faces tremendous challenges, which we also regard as an opportunity. This collaboration is an important building block in keeping both companies on a successful course in the future.”
The agreement features four main points:
• Fuel cell system
• Sports vehicle
• Lightweight technology
• Post-lithium-battery technology