The new agreement adds to existing areas of collaboration between the two firms, which include research into next-generation lithium-ion battery cells.
Bold words about the future of automobiles were heard in Munich last week, as BMW and Toyota signed an agreement to expand their cooperation in the fields of powertrain electrification, lightweight technologies and fuel cells. Toyota President Akio Toyoda and BMW Chairman of the Board Norbert Reithofer issued a joint statement that acknowledged the inevitable transformation of the industry.
“Mobility and its industrialization are in the midst of a technological shift. At the BMW Group, we refer to this as ‘iconic change.’ I believe this is the most decisive moment our industry has ever faced. We have seen similar developments in other industries: The shift from the typewriter to the laptop to iPad. The shift from analog to digital photography.”
The new agreement adds to existing areas of collaboration between the two firms, which include research into next-generation lithium-ion battery cells and a contract under which the BMW Group will supply diesel engines to Toyota Motor Europe.
Akio Toyoda highlighted the synergies between the companies, saying, “Toyota is strong in environment-friendly hybrids and fuel cells. On the other hand, I believe BMW’s strength is in developing sports cars. I am excited to think of the cars that will result from this relationship.”