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Akio Toyoda and Norbert Reithofer address
the media in Munich
(Germany) to announce
collaboration projects between BMW and Toyota.
Toyota 2000GT
BMW Z4
Next Car's Editor says "The collaboration between BMW and Toyota
will see numerous advantages for both companies. For enthusiasts, the new deal will see a jointly developed sports car in
several years."
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BMW and Toyota collaboration
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29th June, 2012
BMW and Toyota sign MoU aimed at collaboration in four fields of
technology
Akio Toyoda, President of Toyota Motor Corporation (TMC), met today with Norbert Reithofer, Chairman of the Board of
Management of BMW AG, at BMW Group headquarters in Munich (Germany) 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 of BMW 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.
BMW's Chairman 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.”
Toyota's President 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 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.
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