BMW Group and Toyota Motor Corporation (TMC) announce that they today signed a memorandum of understanding (MOU) concerning a mid-to-long-term collaboration on next-generation environment-friendly technologies.
Under the MOU, the two companies agreed on a collaborative research in the field of next-generation lithium-ion battery technologies. Furthermore, they have agreed to identify and discuss other possible collaborative projects.
In addition, Toyota Motor Europe (TME), TMC’s European subsidiary, and BMW Group have entered into a contract under which BMW Group is to supply 1.6 liter and 2.0 liter diesel engines to TME starting in 2014. The engines will be installed in certain Toyota-produced vehicles planned for sale in the European market. Through this agreement, Toyota plans to expand its European lineup and sales of fuel-efficient, low CO2-emission diesel-powered vehicles.
Marking the announcement, … CONTINUED