German automaker BMW, and Japanese counterparts, Toyota, have agreed
to collaborate on future green technologies. Both companies have signed a
memorandum of understanding and entered into a mid-to-long-term
contract.
Japanese automaker Toyota has met with great success, cornering the
ever-competitive hybrid market. However, in Europe, Toyota has not fared
as well as it would like – with more European consumers preferring
fuel efficient diesel technology over hybrid-electric. In contrast,
hybrid-electric autos are doing increasingly well in the American
market, a trend BMW is fully aware of and seeks to capitalize on, and
what better partner, it would seem, than Toyota to assist them along.
As agreed, both companies will help aid one another in furthering
research in the field of next-generation lithium-ion battery technology.
In addition, both Toyota and BMW have agreed to identify and discuss
other possible fields of collaboration. Furthermore, BMW has also agreed
to supply Toyota with 1.6 liter and 2.0 liter diesel engines to
Toyota’s European subsidiary by 2014. These engines will be implemented
into Toyota-produced vehicles destined solely for the European market.
Marking the announcement, Norbert Reithofer, Chairman of the Board of
Management of BMW AG, said: “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 added further, ” We are now joining forces to further
develop environment-friendly technologies and to expand our innovation
leadership in each of our segments. Supplying Toyota with our fuel
efficient and dynamic diesel engines represents another important step
in the planned expansion of our sales activities for engines and
powertrain systems.”
It would appear that both Toyota and BMW seek to gain a great deal
for their collaborative efforts, and with all the development and
research dollars being saved, consumers can only hope that they will
see that savings passed onto them.
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