BMW and Toyota said Friday said that the companies will develop a sports car together and cooperate in fuel cell technology, powertrain electrification and lightweight technologies.
"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," Reithofer said in a statement.
Toyoda said: "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."
While Toyota's hybrids are considred the benchmark for the principle, BMW has made great strides in carbon-fiber production, which can combine light weight and great strength.
In March, BMW and Toyota agreed to collaborate with BMW on lithium-ion battery research in exchange for a steady supply of BMW-made diesel engines starting in 2014.
The companies on Friday said they signed an agreement that allows 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.
The Lexus LFA supercar is nearing the end of production, while BMW is readying the i8 for sale.—Paul Duchene
