Rides : BMW and Toyota officially announce partnership on batteries, diesel engines

Following reports earlier this week, BMW and Toyota have officially confirmed that they will share technologies.

The two parties today signed a memorandum of understanding concerning a mid-to-long-term collaboration on next-generation environment-friendly technologies. BMW and Toyota agreed to collaborate on next-generation lithium-ion battery technologies research and also to identify and discuss other possible collaborative projects. In addition, Toyota Motor Europe will receive from BMW Group 1.6-liter and 2.0-liter diesel engines starting in 2014.
„The engines will be installed in certain Toyota-produced vehicles planned for sale in the European market. Through this agreement, Toyota plans to expand its European lineup and sales of fuel-efficient, low CO2-emission diesel-powered vehicles,” reads the joint press release.
BMW CEO Norbert Reithofer said the two automakers are joining forces to expand their innovation leadership. “Toyota is the leading provider of environment-friendly series technology in the volume segment and the BMW Group is the most innovative and sustainable manufacturer of premium automobiles,” he said in a statement. Reithofer added that supplying diesel engines to Toyota is another step in BMW’s plans to expand of sales of its engines and powertrain systems.
Toyota CEO Akio Toyoda said: „In the spirit of contributing to furthering the development of the auto industry and society, both companies will bring their wide-ranging knowledge - starting with that concerning environmental technologies - to the table and make ever-better cars.”