- BMW and Toyota has announced last December that they are planning to collaborate with each other in exploring the possibilities of developing long-term and mid-term environmental technologies. This plan was subsequently pushed through and resulted to a joint research which focuses on lithium-ion batteries that are used in most electric and hybrid cars. This deal has also resulted to an agreement which stipulates that BMW would be supplying the European subsidiary of Toyota with diesel engine in 2014.
Although the first deal tends to cover a broader aspect, both of the companies were not yet contented with what they have agreed upon. As a result, they have come up with another agreement that focuses on the development of sport cars in the near future. The new agreement encourages BMW and Toyota to work closely in developing the upcoming sport cars’ architecture as well as their components. The two car makers would also be working on the development of more lightweight technologies improved vehicle electrification systems that they could use in their production.
Akio Toyoda, Toyota Motor Company’s current president has signed the newly developed agreement in Munich together with BMW’s Chairman of the Board Norbert Reithofer. The deal was signed by the BMW and Toyota’s top executives in Munich, Germany. Toyoda has stressed out he is excited with the possible car models that this agreement would be producing. In addition to that, Toyota’s president also revealed that he is personally looking forward that the joint-venture would one day produce an environment-friendly sports car that would excite a lot of car fans all over the world.
This particular move from Toyota is currently viewed by a lot of car experts as one of Toyoda’s strategies in realizing his promise to produce more emotional cars for the company and gradually use each of these as replacements for some of Toyota’s aging vehicle models. Toyoda has also praised BMW by providing a statement that the German car maker is very much knowledgeable in making cars with impressive running performance. He even pointed out that he respects BMW despite the fact that this was one of Toyota’s greatest rivals.
Although the agreement obliges BMW and Toyota to work closely, both of these car makers insisted that they will still operate as separate entities. Such statements clearly deny some of the rumors that such agreements were made to prepare both companies for a possible merger.