BMW and Toyota have formally inked a memorandum of understanding aimed at collaborating on a wide range of shared fields, including fuel cell development.

Signing the deal in BMW’s home city of Munich today (29 June), Toyota president Akio Toyoda and BMW chairman, Norbert Reithofer, outlined four areas of common goals namely: joint development of a fuel cell system; joint development of architecture and components for a future sports vehicle; collaboration on powertrain electrification and joint research and development on lightweight technologies. 

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“We aim to further strengthen our competitive position in sustainable future technologies,” said Reithofer. “We signed an MoU to this effect today. 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.” 

For his part, Toyoda added: “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. 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.” 

In March 2012, the BMW Group and TMC signed a binding agreement on collaborative research in the field of next-generation lithium-ion battery cells.

In addition, BMW and Toyota entered into a contract in December last year, under which the BMW Group will supply 1.6 litre and 2.0 litre diesel engines to Toyota starting in 2014. 

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Today’s MoU formalises the companies’ agreement in December last year to identify and discuss other possible collaborative projects.