After entering a mid-to-long term partnership last December on the basis of sharing hybrid technology and diesel engines, Toyota and BMW have extended their partnership after signing a memorandum of understanding today at the BMW Group headquarters in Munich.
The expansion of their existing collaboration will include the joint development of components for a future sports car alongside other technologies such as lightweight material, fuel cell and powertrain electrification.
“BMW and Toyota both want to make ever-better cars. We respect each other. That is why we already can take the next step together,” said Akio Toyoda, President of Toyota Motor Corporation.
He added: “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.”