BMW and Toyota have agreed to co-develop a common platform for a sports car, according to reported remarks made by BMW head of R&D Herbert Diess.

Mr Diess told German newspaper Frankfurter Allgemeine Zeitung that the two companies have agreed to develop a common architecture for a sports car, but that “the two cars will be different and authentic to the two brands”.

The two companies had previously agreed to collaborate in various other technology development programmes, including lithium-air batteries and light-weighting technologies. A feasibility study was carried out last year into the joint development of a mid-sized sports car.