BMW Group and Toyota Motor Co. announce that they have signed a memorandum of understanding (MOU) concerning a mid-to-long-term collaboration on new environment-friendly technologies. The agreement means that the companies will begin to work together on a new generation of lithium-ion batteries, leaving the door open to possible further developments of the partnership. Moreover, In addition, the BMW Group will supply 1.6-litre and 2.0-litre diesel engines to Toyota Europe, starting in 2014.

Commenting the announcement, Chairman of the Board of Management of BMW Norbert Reithofer said that: “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. We are now joining forces to further develop environment-friendly technologies and to expand our innovation leadership in each of our segments.”

Toyota Motor Corporation’s President Akio Toyoda added: “It is a great joy and a thrill to enter into this mid-to-long-term collaborative relationship with BMW, a company with its own culture and history from its many years of car manufacturing in Europe, and a company that makes cars that are fun to drive.”

via | Auto-Media.Info

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