Toyota Motor (TMC) and BMW Group (BMW) have declared that they have entered into a memorandum of understanding (MOU) in order to partner long-term for advancement of eco-friendly technologies.
According to the agreement, the companies have decided on a combined research in the area of future lithium-ion battery solutions. The companies have also decided to determine and study a number of other feasible projects.
Additionally, an European affiliate of TMC, Toyota Motor Europe (TME) and BMW have signed an agreement by which BMW will supply 2.0 l and 1.6 l diesel engines to TME beginning in the year 2014. The engines, scheduled to be sold in the European market, will be deployed in specific Toyota-manufactured vehicles. By this contract, Toyota will expand its European product line as well as the sale of low CO2 emission, fuel-saving, diesel-run vehicles.
BMW’s Chairman of the Board of Management, Norbert Reithofer stated that the joining together of Toyota and BMW will enable development of eco-friendly technologies and help enhance its innovative leadership in every segment. He added that offering Toyota with its dynamic and fuel-saving diesel engines, symbolizes another essential step in the company’s plans for expansion of its marketing activities for powertrain systems and engines.
President Akio Toyoda of TMC said that the company is exited to sign this long-term agreement with BMW, a renowned company with rich experience in car manufacture. In order to improve the development of society and the automotive sector, both companies are planning to combine their expertise in eco-friendly solutions to offer superior vehicles to the customer, he added.