BMW and Toyota are extending their partnership, from simply creating "next-generation environment-friendly technologies" in December 2011 to as far as developing a sports car in the future.
Six months after announcing their intention to work together on next-generation lithium-battery technologies, both carmakers have agreed to expand their collaborative efforts.
"We aim to further strengthen our competitive position in sustainable future technologies," said BMW AG board chairman Norbert Reithofer. "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."
Besides the planned joint development on the architecture and components for a future sports vehicle, BMW and Toyota will also team up on the development of a fuel-cell system, powertrain electrification, and lightweight technologies.
"BMW and Toyota both want to make ever-better cars," said Toyota Motor Corporation president Akio Toyoda. "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."
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